Philippine banks likely to weather crisis better than SE Asian peers, says S


Source: freevoicegazette.com freevoicegazette.com

Key Topics in this News Article:

News Snapshot:

REUTERS/THOMAS WHITE/ILLUSTRATION By Beatrice M. Laforga, 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...