HONG KONG -- HSBC Holdings and its regional Asian rivals are staring at a hit of more than $2 billion in lost revenue and an even bigger bill in provisions for soured loans due to the coronavirus outbreak, with the impact set to double if the epidemic is not contained by March.
U.K.-based HSBC, which is planning to redeploy capital to Asia, sees $600 million in additional loan losses as clients are forced to shut operations and demand for business from their consumers dries up.
