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Standard Chartered
PLC said the persistent trade dispute between the United States and China is causing customers to delay their investment decisions, but could be beneficial for the bank over the time. Executive
Bill Winters
The lender focused on Asia has only minimal exposure to direct trade between China and the United States, but it closely follows the movements of the United States and China that could affect its business and the global economy.
Standard Chartered is one of the largest commercial finance banks, helping to grease the wheels of the global economy by facilitating cross-border imports and exports with loans and payment guarantees . Mr Winters said that there is currently "a cautious part in cross-border investments," as customers study how their supply chains might be affected by a larger intervention on property.
"An increase in fares is of course not a good thing But this is not a bad thing for Standard Chartered," he said. Emerging Asia is developing, it is the backyard of China and China is actively cultivating this market for its finished products. . This economic integration is running at full speed … and is largely unstoppable, "said Winters." As the United States becomes a less reliable trading partner, this trend will only accelerate, "said Winters. he said.
An increasingly deep dispute between the United States and China has led the two countries to steel to dog leashes, and the gloomy expectations for economic growth. American
Donald Trump
also imposed tariffs on steel and imports from the United States. European Union, Canada and Mexico, resulting in retaliation from these trading partners
. Winters made these comments while Standard Chartered posted better than expected results in the first half, with a net profit of $ 1.34 billion over six months, compared with $ 971 million in the first half of 2017. The bank's equity reached 6.7% Greater China and Northeast Asia accounted for $ 3.1 billion in revenue totaling $ 7.6 billion, up 6% over the period
. months went from $ 583 million a year ago to $ 293 million. He declared an interim dividend of 6 cents.
-Saurabh Chaturvedi in Hong Kong contributed to this article.
Writing to Margot Patrick at [email protected]
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