Tough year for S'pore and regional banks, warns S&P
Agency cites lower GDP growth, tighter credit conditions
SINGAPORE banks could be in for a rough ride this year due to sluggish economic growth and skittish financial markets.
Lower economic growth prospects and tighter credit conditions could create a tougher operating environment for the banking sector here and in the region, said a new report by Standard & Poor's (S&P).
S&P expects Singapore's Gross Domestic Product (GDP) growth to fall to 3.4 per cent this year, from 3.7 per cent last year.
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