Singapore banks can fend off challenges to asset quality, says S&P
Singapore
THE financial strength of Singapore banks will be tested this year as asset quality deteriorates and non-performing loans (NPLs) edge up, Standard & Poor's (S&P) said in a report released on Wednesday.
But the credit rating agency believes that the three well-capitalised banks have sufficiently solid financial profiles to endure the difficulties and maintains "AA-" long-term issuer credit rating on all three banks.
While flagging that these banks are in for a bumpy ride in 2016 as slowing loan demand and vulnerable asset quality takes centre-stage, S&P stressed that the loan-loss reserves of Singapore banks is at over 100 per cent of pr…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Marina Bay Sands Q1 profit surges 51.5% to US$597 million on tourism boom
US: Wall St opens higher as some chip stocks bounce back after selloff
Blackstone reports 1% rise in Q1 earnings
India’s Infosys misses fourth-quarter revenue estimates
UBS shuts some China private funds, will lay off staff: sources
China’s top lenders face 1.6 trillion yuan loss-absorbing capital shortfall by 2025, Fitch estimates