StanChart sees key markets leading quick economic recovery after loan losses hit first quarter

StanChart sees key markets leading quick economic recovery after loan losses hit first quarter

before the global economy moves out of recession in the latter part of 2020, most likely led and driven by markets in our footprint," the British-based lender said.. The result came a day after bigger cross-town rival HSBC Holdings PLC ( HSBA.L ) said its first-quarter profit nearly halved as bad loan provisions jumped to $3 billion, while Barclays PLC ( BARC.L ) on Wednesday set aside $2.6 billion for the same.. A large portion of the credit impairment was accounted for by two clients - in commodity trading and healthcare - the bank said, without identifying the clients.. On April 1, the lender said it would scrap dividend payouts in line with other British banks after the Bank of England urged them to conserve capital during the pandemic..