Moody's: Philippines banks stable

Moody's Investors Service said in a new report that the outlook for the Philippines' banking system is stable.

The stable outlook for the Philippine banking system reflects the stabilization of both the domestic economy and global conditions.

The outlook for the Philippine banks' bank financial strength ratings and deposit ratings also are stable, Moody's said, and reflect the banks' still weak, but improving asset quality and reasonable levels of liquidity.

The banks' well preserved and deposit-funded balance sheets position them favorably for growth over the next 12 to 18 months, the agency said.

The Philippines has emerged from the global crisis in reasonable shape, Moody's added.

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