bullish
ASEAN Banks Walked Diverging Paths to Recovery Post-Pandemic
24 Views12 Sep 2023 11:00
SUMMARY
- 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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