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Gradual rate hikes will benefit Singapore banks, says S&P

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The credit cycle of Singapore banks is at a turning point, says S&P. The rating agency believes the banks will emerge as net beneficiaries

Singapore

SINGAPORE banks will, on the whole, benefit from gradual rate hikes, Standard and Poor's (S&P) said in a report on Thursday.

And this comes after evaluating risks from higher non-performing loans (NPLs) and a potential build-up of complacency from prolonged stability