S'pore banks' profit growth to ease slightly in year ahead: Fitch

Singapore

SINGAPORE banks are likely to record just slightly weaker growth in profit in the year ahead, buffered by a diversification in their business, and selective lending in China, a Fitch Ratings report said on Wednesday.

"Banks' selective lending in China - focusing on SOEs (state-owned enterprises), large corporates and short-term trade loans - is another protection," said the report, which ranked the lenders here "stable" in the outlook for both their ratings, and the overall sector.