The ASEAN banking sector’s credit profile has experienced differing credit trends post the COVID-19 pandemic.
Although the initial recovery in the credit profile of the region’s banking sector post- pandemic can be attributed to the fiscal and monetary support provided to both financial and non-financial corporate by local governments, more recent credit trends suggest that macroeconomic challenges, which include higher- for-longer interest rates amidst high domestic inflation and lagging economic growth, have led to diverging trends to recovery within the bloc.
Immediate responses to the pandemic shock by major ASEAN economies’ governments aided in reducing the credit risk across the financial sector.
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