Standard Bank withdraws guidance over coronavirus
JOHANNESBURG – Standard Bank on Tuesday withdrew its financial guidance citing uncertainty caused by the coronavirus which has forced South Africa into a 21-day lockdown expected to take a toll on an already sputtering economy.
Africa’s largest lender by assets is the first of South Africa’s major lenders to warn that its outlook and guidance might no longer stand.
“While the Covid-19 pandemic continues to unfold and countries respond to this crisis in different ways, there is a high degree of uncertainty regarding the impact it will have on Standard Bank’s financial performance in the 2020 financial year,” Standard Bank said in a statement.
Source: iol.co.za