Reuters, 28 Nov 2008, Melanie Lee and Neil Chatterjee
SINGAPORE, Nov 28 (Reuters) - Singapore's banks will face a deterioration of their loan books and rising bad debt, reflecting the slowdown of Southeast Asia's economies, the country's central bank said on Friday.
But it said Singapore banks' capital strength would help them through the difficulties.
"The local banks would face these risks from a position of strength...Our assessment is that the banking and insurance sectors are resilient and should be able to weather the economic downturn and heightened market volatility," the Monetary Authority of Singapore said in its annual financial stability review.
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