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Moody's lifts outlook for Singapore banks to ‘stable’

Jude Chan Published on Wed, May 31, 2017 / 12:20 PM GMT+8

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SINGAPORE (May 31): The worst might be over for Singapore banks.

Moody's Investors Service has upgraded its outlook for Singapore’s banking system to “stable”, from “negative” previously. This comes amid improving growth conditions as well as receding risks to asset quality and profitability on the back of stabilising commodity prices.

The outlook is based Moody’s assessment of five pillars – operating environment; asset quality and capital; funding and liquidity; profit and efficiency; and systemic support – which were each rated “stable”.

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Moody's lifts outlook for Singapore banks to ‘stable’