Fitch: Asia banks resilient

There have been some positive surprises for banks in emerging Asia on the back of recently reported first half results for 2009, Fitch Ratings said.

In most cases, Asian banking systems are proving to be more resilient to the downturn and reporting better than expected levels of profitability and asset quality, the agency said.

While cautioning that bad loans will continue to emerge over the next year even as economies stabilize, Fitch said it attributes this resilience to the external nature of the economic shock that hit Asia, in contrast to the collapse of asset bubbles that occurred in some western economies that are far more damaging to banks.

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