Moody's lowers Singapore banks’ outlook to negative
The bank cited its expectations of a more challenging operating environment for banks in Singapore and slowing economic growth both in the country and the region as the main factors behind the cut. According to Moody’s, banks in Singapore will continue to weaken due to slowing economy and lower trade growth.
However, the agency reported that Singapore’s banks still have strong capital, loan loss provisions and pre-provision income as well as resilient funding and liquidity profiles.
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