Standard Chartered: The US-China trade war will have a 'minimal' effect on our business

Trump Xi trade warAP/Saul Loeb

  • Standard Chartered reported a 34% increase in first-half pre-tax profits.
  • CEO Bill Winters said: "Our direct exposure to increasing tariffs between the US and China is minimal, less than 1% of income."
  • Stock falls over 3% in London on rising digital investment costs, which investors think could hamper return on equity targets.


HONG KONG/LONDON (Reuters) - Asia-focused lender Standard Chartered said it expects minimal impact on its income from rising US-China trade tensions, as it reported higher pretax profits and lower bad loan losses for the six months ended June.

The bank said it was confident it would continue to deliver better returns in the medium term as its sweeping restructuring measures pay off, while its "limited" exposure to the mounting US-China spat will also aid the bottom line.

See the rest of the story at Business Insider

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