31 Mar '16, 10am

#singapore #property Moody's lowers Singapore banks outlook to negative: Credit ratings...

Credit ratings agency Moody’s Investors Service has downgraded the outlook on the largest banks in the republic from stable to negative. In a statement on Thursday (31 March), Moody’s said the affected banks are DBS Bank, its parent company DBS Group Holdings, United Overseas Bank (UOB), and Oversea-Chinese Banking Corp (OCBC). It said the rating reflects its expectation of a “more challenging operating environment for banks in Singapore this year, and possibly beyond,” and that it will put pressure on these banks’ asset quality and profitability. It added that the credit conditions for banks in here would likely continue to weaken against the backdrop of slower economic and trade growth, both domestically and in the region. Meanwhile, Moody’s noted that Singapore banks maintain “very strong buffers,” in terms of capital, loan loss provisions, and pre-provision income and ...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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