Historic bank Rothschild warns of financial hit from coronavirus

PARIS (Reuters) – Rothschild , the historic banking and financial services firm whose alumni include French President Emmanuel Macron, warned on Tuesday of a hit to its results as the coronavirus crisis hits global businesses 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.

Rothschild added, however, that it was still planning to pay out a dividend of 0.85 euros per share.

Founded by Mayer Amschel Rothschild in the 18th century, the Rothschild banking dynasty has worked on some of history’s biggest deals, including helping finance Britain’s war with Napoleonic France.

(Reporting by Sudip Kar-Gupta; Editing by Jon Boyle)