A-Pac financial institutions Covid recovery to be long and laborious: S&P ANI | Updated: Apr 22, 2021 13:51 IST
Melbourne [Australia], April 22 (ANI): Credit conditions have improved for Asia Pacific banks over the past quarter but the pandemic has set back finances of households and corporates with deeply negative effects on lenders, S&P Global Ratings said on Thursday.
Economies are recovering smartly, countries are rolling out vaccinations and regional financing circumstances remain supportive. And yet, the pandemic has so seriously set back the finances of households and corporates with deeply negative effects on lenders that banks may need years to fully recover, it said in report titled Asia Pacific Financial Institutions Monitor 2Q 2021: Views From The Bottom Of The U.