Bangkok--16 Oct--Moody's
Moody's Investors Service says its outlook for the banking industry in Asia is increasingly negative, but that for bank ratings generally remains stable.
"In a teleconference on October 14, Moody's financial institutions group presented the outlook for the region's banking system generally, and more specifically for Japan, Australia and Korea," says Jerry Chien, Managing Director, Financial Institutions Group, Asia Pacific.
Chien's remarks coincided with the release of a Moody's Special Comment summarizing each presentation. The outlook for Asia Pacific was discussed by Chien himself; Japan by Mutsuo Suzuki, Senior Vice President; Australia by Patrick Winsbury, Senior Vice President; and Korea by Deborah Schuler, Senior Vice President and Regional Credit Officer.
The presentations concluded that while the next 12-18 months looks gloomy, Asia will still outperform other regions due to strong underlying economic growth.
"This and their still intact capital positions will protect bank ratings, while low income countries and their banks could be harder hit, but these ratings are conservatively placed," says Chien.
Copies of the report -- entitled Outlook for the Asian Banking System -- A Summary -- can be found at
For more information please contact:
Hong Kong
Jerry Chien
Managing Director
Financial Institutions Group
Moody's Asia Pacific Ltd.
JOURNALISTS: (852) 2916-1150
SUBSCRIBERS: (852) 3551-3077
Singapore
Deborah Schuler
Senior Vice President
Financial Institutions Group
Moody's Singapore Pte Ltd.
JOURNALISTS: (852) 2916-1150
SUBSCRIBERS: (65) 6398-8308