The repercussions of the spread of the Coruna virus resulted in the cancellation of dividends during 2020 in the five largest British banks.
According to ArabiaNet, shares of HSBC declined in Hong Kong trading after announcing the cancellation of dividends, and warning that revenues will be affected by the outbreak of the Corona virus, in addition to losses from loans.
Shares of Standard Chartered Bank also declined, after it also announced that it would cancel the dividends that have not yet been paid for the year 2019.
It will also cancel 2020 dividends and stock repurchases, joining Royal Bank of Scotland, Barclays and Lloyds.
These steps were taken at the urging of the British regulators.
In this context, Citigroup warned that the intervention of regulators threatens more poor performance for British banks compared to local insurance companies and international banks.
The top 5 banks in Britain were supposed to pay a dividend of 7.5 billion pounds over the next two months.
