Rothschild warns of financial hit from coronavirus outbreak
31 Mar, 2020 08:45
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Historic banking firm Rothschild, whose alumni include French President Emmanuel Macron, has warned that the global Covid-19 crisis will impact the bank's financial results due to the effect on global business and markets.
"Although there is still considerable uncertainty around how this will develop and, hence, the degree to which this will impact our 2020 financial results, it is clear that the effect will be materially detrimental compared to 2019," Rothschild said in a statement on Tuesday.
Rothschild added that it was still planning to pay out a dividend of €0.85 ($0.93) per share.
READ MORE: Rothschilds accused of preying on South Africa's state-owned enterprises
Founded in the 18th century by Mayer Amschel Rothschild, the banking dynasty has worked on some of history's biggest deals, including helping to finance Britain's war with Napoleonic France.
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