UK bank Standard Chartered chief executive Bill Winters said on Monday (April 25) that the banking sector may face new problems even as the immediate risks from last month’s market turmoil have faded.
“I think we can put the crisis behind us. I don’t think we can put the issue behind us,” he told CNBC’s Joumanna Bercetche. Winters also said other issues could “come home to roost in some form of a crisis” as imbalances in some banks are exposed.
Swift intervention by regulators in March prevented the collapse of Silicon Valley Bank — and later, Credit Suisse — from escalating into a wider banking crisis.
However, Winters warned that the “dramatic change in the macroeconomic environment” has exacerbated existing problems at some lenders, which may yet have an impact. Standard Chartered, which makes most of its profit in Asia and emerging economies, is set to report earnings Wednesday.