Southeast Asian banks to withstand external pressures: S&P

Standard and Poor's foresees most banks in Southeast Asia capable of withstanding external pressures but must brace for slower economic growth amid the uncertain external environment in 2012.

According to a report, "Southeast Asia Banks: Staying The Course Amid Challenging External Environment", by the rating services firm, it expects an adequate financial profile and a good systemwide liquidity to help the banks navigate a difficult 2012.

"Some banks have adopted defensive strategies and selective growth to manage their risk exposures while preserving capital," a credit analyst from the firm, Ivan Tan, said in a statement here Thursday.

"Europe is an important trading partner for Southeast Asian countries and a further slowdown in exports might lead to lower economic growth, weaker asset quality and higher credit costs," he added.

Tan said the retreat of European banks can also present opportunities for Southeast Asian banks to expand market share and presence.

For more.

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