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.
"A key risk lies in banks' exposure to the commodity sector, which has been hit by low commodity prices. We expect modest risk from this sector, given Singapore banks' diversified loan portfolios and steady asset-quality track record," it …
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