Singapore banks able to hold up against property correction: Fitch

Singapore

THE property market correction in Singapore may place modest pressure on banking system loan quality but the three domestic banks - OCBC, DBS and UOB - should be able to withstand this, Fitch Ratings said in a report on Friday.

"Fitch expects Singaporean banks' potential losses from mortgages to be minimal due to relatively healthy household balance sheets and adequate collateralisation," the credit rating agency said.