Last updated on May 7th, 2021 at 06:00 am
The impact of the coronavirus pandemic has certainly hit the Asean banks and induced a recession that is now currently affecting majority of the countries in the region.
According to Fitch Ratings, They will be downgrading the Issuer Default Ratings (IDRs) of around 20% of ASEAN banks portfolio beginning March.
ASEAN banks portfolio ratings in this period are at around 80%, with 41% incurred a downward outlook. We currently have around 30% on negative outlook .
Among a couple of factors that drives these rating and outlook changes are ratings assessed that has been driven by institutional support from foreign parents – especially in Indonesia. Recent re-assessment has conducted to several countries like the Philippines, Thailand and Vietnam pointed to a sovereign rating outlooks to Positive from Stable.
Changes in Bank’s Viability Ratings (VRs) has also made changes due to the VR been driven by weakening operating environments and also deterioration in the banks’ financial profiles. Fitch have downgraded the operating environment for all Fitch-rated ASEAN banking markets – except Singapore (negative outlook).
KPop Demon Hunters is the story of a huge animated movie success that conquered the hearts of people all around…
A feast is set for the Vietnam football fans as the complete television schedule of the diverse football matches of…
The social media is buzzing over this new B-Town couple Ashish Chanchlani and the Swedish-Greek actress landed into the spotlight…
The newly revealed Samsung M36 5G has took over the social media especially the X by becoming the #1 trending…
The much awaited Yellow and Blue jersey battle of TSK and MINY took place on 12 July 2025. With the…
The Indonesian government in a bold step to improve the accuracy of the social welfare distribution cut off 1.9 million…
This website uses cookies.
Read More
View Comments
Like!! Thank you for publishing this awesome article.