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Indian banks to feel the effect of Covid second wave long after infections fade: S&P Global

Indian banks to feel the effect of Covid second wave long after infections fade: S&P Global
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Philippine banks likely to weather crisis better than SE Asian peers, says S&P

Reporter PHILIPPINE BANKS appear better positioned to weather the surge in soured loans than Southeast Asian peers, but sluggish economic growth could dampen the sector’s recovery this year,   S&P Global Ratings said. “We have a negative outlook on the Philippine banking sector, that means there is a one-third chance that the rating can be downgraded in 1.5 to two years, so clearly that there are risks,” Ivan Tan, director at the financial institutions ratings of S&P, told a webinar on Wednesday. The credit rater gave a “negative” outlook on the Philippines’ rated banks on expectations that existing financial buffers may not be enough to absorb the fast deterioration of asset quality, if economic recovery is delayed.

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