Moody’s turns moody on RP banks

MANILA, Philippines — Moody’s Investors Service has turned negative on the banking sector in the Philippines and the rest of Southeast Asia, saying the global economic crunch would weigh on their financial performance over the short term.

In the case of the Philippines, the credit-rating agency said falling interest rates and the possible increase in the loan defaults by borrowers would shrink the profit of banks.

Read more…

Leave a Reply

Your email address will not be published. Required fields are marked *


You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>