- Jose talked about the need to drive finance towards a new economic model which has been reinforced by Covid-19. As a bank they have focused on the employees, clients and their communities and ensuring continued resilience and agility. While banks were part of the problem in the 2008 financial crisis, this time he sees banks as part of the solution. Standard Chartered has put USD1 billion towards frontline sectors and also created a fund of USD50 million towards those most hit by the pandemic.
- Cooperation and collaboration are more important than ever before. Putting aside competition for the betterment of communities and leveraging networks that have the ability to share knowledge and platforms to build bridges
- Jose shared that SMEs will require a differentiated approach where banks play an integral role in financing this group in the post-COVID world as they need to be supported.
The world is in the midst of an unprecedented crisis. The COVID-19 outbreak has spread rapidly, posing significant challenges to businesses, communities and individuals across the globe. The banking industry plays an important role keeping the economy running while the world is in lockdown. Join us as we chat to José Viñals on how Standard Chartered Bank, is responding to the COVID-19 pandemic and discuss lessons learnt.