Fitch: Asian banks growth strong

Fitch Ratings said it said banking trends in Asia have remained generally good with sufficient levels of profitability, stable or improving asset quality and adequate or strong capitalization.

Fitch said it reviewed banks in Asia, with the exception of Japan, noting that growth remained strong in emerging Asia despite the credit crisis.

The agency said it expected growth to slow in 2008, but actually saw little sign of this in the first half of the year with results mostly in line with or exceeding forecasts.

However, global growth has slowed more than initially expected in 2008 and that growth will be slow in the developed economies in 2009, Fitch added.

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