(Bloomberg) — Standard Chartered Plc put aside $956 million against potential losses as souring loans spike during the coronavirus pandemic, even as a trading boom lifted first-quarter revenue.The emerging markets-focused lender reported the biggest provisions since 2015 as clients across Asia, Africa and the Middle East got into difficulty because of lockdowns and travel restrictions. That reflects similar warnings from other global banks, which have allocated billions of dollars to deal with the crisis.“While pressure on credit quality has increased recently, we delivered good underlying income growth of 6% in the first quarter and maintained strong cost discipline,” Bill Winters, …read more
Source:: Yahoo Finance
