UOB's worst-case credit costs projected to 90-100 bps amid virus fallout, says Citi report

Singapore

UOB has projected for credit costs to reach 90 to 100 basis points (bps) as its worst-case scenario, as the lender braces for further downside amid the virus fallout.

The bank's latest credit cost guidance is up from its original estimate of 25 to 30 bps in February, said Citi analyst Robert Kong in a note late on Wednesday night.

"The actual outcome will depend on a number of factors, including for example policy responses by gove…

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