Standard Chartered has this morning announced a loss-making Q3, accompanied by a $5.1bn1 rights issue and a strategic review. As we wrote in August, 'Here for good, or just for now?' we believe that the company had previously been run with too much emphasis on top-line growth and too little regard to prudent provisioning for potential bad loans: in short, previous management of Standard Chartered forgot that banking was a cyclical industry and that with Asian and Emerging Market economies continuing…
‘Standard Chartered: a broken business model in a cyclical downturn’
03 Nov 2015
Posted by Barry Norris