Economic fallout hits on Singapore banks' outlooks: Fitch

Uploaded By:  Frances Gagua Submitted By:  Staff Reporter Case Study:  No Impaired loan ratios are expected to more than double from end-2019 levels. The economic fallout resulting from the ongoing coronavirus pandemic will further weaken Singapore banks’ key financial metrics, according to Fitch Ratings. All three major Singapore banks face a negative outlook, with Fitch warning of a ratings downgrade. Impaired-loan ratios are expected to more than double from end-2019 levels, and earnings to fall by around one-third. read more