Standard Chartered fears an escalation of the trade dispute between the United States and China. According to CEO Bill Winters of the British bank, the shift between the economic superpowers now also works in areas such as technology and security. According to him, a possible solution is less straightforward there. StanChart is certainly not the first bank to warn of the impact of the ongoing trade dispute.
The bank saw its adjusted profit before taxes in the first half of this year amount to 2.6 billion dollars. That was almost $ 2.4 billion a year earlier. Revenues rose fractionally to $ 7.7 billion. The bank also managed to improve its return. Winters has placed a clear dot on the horizon at this point, according to which the bank is on course.
Earlier, StanChart announced it would buy $ 1 billion worth of its own shares. Of this, $ 740 million had been realized after the second quarter. In the markets, there is more and more the idea that the bank can choose to stock up another $ 1 billion of its own shares. According to StanChart, no promises have yet been made in this area.
About the author: Christy Olsen
Christy Olsen, a young author who followed in her father's footsteps and took up journalism at school. She often introduces a lot of subjective things into his texts, always tries to state the essence and give a proper assessment.