|Forum - Wall Street Pit
||Stock Due Diligence for All|
|From: Jackal (Rep: 803)||Date: 04/02/2020 03:55|
|Forum: Wall Street Pit - Msg #2830822||Thread #674139315 (Rec: 0) |
|Moody's downgraded the outlook for Singapore's banking sector to "negative" from "stable", citing risks of rising bad loans and deteriorating profitability due to an economic slowdown and a decline in interest rates amid the coronavirus outbreak.|
"Credit costs will rise as asset quality worsens, while interest rates will decline due to monetary easing, weighing on net interest margins," the ratings agency said in a report on Thursday.
Singapore's three main lenders, DBS Group Holdings, Oversea-Chinese Banking Corp and United Overseas Bank had forecast muted earnings growth for 2020 even before the virus outbreak.
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