LONDON—The Bank of England said on Monday it was fining Standard Chartered 46.55 million pounds ($61.51 million) for misreporting its liquidity position to the regulator and for failings in its controls. The Prudential Regulation Authority (PRA) said the fine related to when the regulator was concerned from late 2017 about a “heightened risk” of U.S….
StanChart Flags Flat Annual Income Despite Strong Q3 Profit; Shares Drop
LONDON—Standard Chartered forecast flat income for the full year amid “uneven” economic recovery from the pandemic, even as it turned in a stronger-than-expected quarterly pre-tax profit, sending its shares lower on Tuesday. CEO Bill Winters, who has won plaudits from investors for repairing the balance sheet and slashing thousands of jobs since taking the top…
HSBC, StanChart May Face Secondary Shockwaves From Evergrande Crisis: Analysts
September 24, 2021
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Business & EconomyChinaChina Business & EconomyCompaniescrisisEuropeevergrandeHK BusinessHong KongHSBCMarketsSecondaryShockwavesStanChartUKWorld
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LONDON—HSBC and Standard Chartered could face spillover damage to their profits and balance sheets from the debt crisis enveloping China Evergrande Group even though the two banks say they have limited their direct exposure, analysts have warned. Other banks and insurers could also suffer indirect effects such as loss of fees or a devaluation of…
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