Ewan Stevenson, HSBC Chief Financial Officer, announced that the bank may have to allocate an additional $ 600 million to cover loan losses in the event of a continued outbreak of the Coronavirus. During the second half of this year.
According to Reuters, Stephenson said that the bank develops several perceptions of the impact of the virus on its activities, and according to the longest period of its continuation under these assumptions, the bank will have to bear an increase in bad loans up to that point.
"There will be effects on revenue and it will be more severe if the Corona virus continues beyond next month and up to six weeks," Stevenson told analysts at a conference call.
