British multinational banking and financial services company Standard Chartered PLC has recently announced its first quarterly financial results for the quarter ended on March 31, 2020.
On an underlying basis, earnings per share of the company went down by 8 percent to 25.4 cents during the quarter as compared to the same period last year, said a press release.
The unique characteristics of the Standard Chartered franchise are coming through strongly as the impact of Covid-19 evolves, said Bill Winters, group CEO of Standard Chartered PLC.
"Our teams around the network are responding very well, staying close to our clients," he said.
"While sentiment globally is extremely depressed now, the uniqueness of this franchise and the work we have done since 2015 to secure its foundations gives me confidence that we can come through the crisis with strength," Winters added.
He informed of a $50 million global fund launched with donations from colleagues and the bank to provide assistance to those affected by Covid-19 and related economic impacts.
"We have also committed up to $1 billion of financing, offered at cost, for companies that are providing goods and services to help in the fight against the pandemic."