Moody's: Philippine banks positive

Moody's Investors Service said it changed the outlook for the Philippine banking system to positive from stable on the combined effects of a strong domestic macro-economic backdrop as well as improvements in the banks' fundamentals, including asset quality, liquidity, earnings and, therefore, capital generation.

"The robust and evolving state of the domestic economy will continue to offset any potential weakness in exports," Moody's analyst Simon Chen said in a news release. "In particular, household consumption and steady government-led infrastructure spending will support a stable GDP growth rate of above 5%, which will in turn buttress the earnings growth of banks without raising concerns about overheating."

© 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.