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Standard Bank Group withdraws 2020 guidance

South Africa's Standard Bank Group Ltd. said March 31 that it withdrew its financial guidance for 2020 due to uncertainty surrounding the impact of coronavirus outbreak on its performance.

In March, the lender expected its return on equity to remain below but closer to the lower end of its 18%-20% target range in 2020.

The bank said it will continue to evaluate the impact of the pandemic and provide updates once there is enough certainty.

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