KUALA LUMPUR: Risks are growing for Singapore's three largest banks – DBS Bank Ltd. (Aa1/Aa1 stable, a1), Oversea-Chinese Banking Corp Ltd (Aa1/Aa1 stable, a1) and United Overseas Bank Ltd (Aa1/Aa1 stable, a1) – as economic conditions worsen, Moody's Investors Service said.
It said on Tuesday non-performing loans (NPL) ratios remain low at 1.5%, but will deteriorate amid rising volatility. It added further improvement to profitability will be difficult.
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