Fitch: Singapore banks stay stable

Fitch Ratings said in a new report that Singapore banks' financial profiles remain strong, and are still well-positioned to face a more challenging operating environment in Asia, which is the result of knock-on effects of global economic developments.

While this has contributed to downward revisions in GDP growth rates of several Asian countries, the overall economic environment is expected to remain broadly favorable for Singapore banks, the agency said.

The local banks' net exposure to CDOs and other structured investments is quite modest relative to their capital (1% to 5%), Fitch added, and this by itself is not an issue that may affect the bank's credit ratings.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.