People wearing protective suits is seen at a street market in Wuhan, Hubei province, the epicentre of China's novel coronavirus disease (COVID-19) outbreak, April 6, 2020. RUETERS/Aly Song
KUALA LUMPUR: As the Covid-19 coronavirus ravages the global economy and puts millions of people under a lockdown, S&P Global Ratings estimates the economic storm will test the ratings resilience of the Asia-Pacific region's 20 banking sectors.
The ratings agency, which had recently cut its GDP forecast for the region, estimated an additional US$300bil spike in lenders' credit costs and a US$600bil increase in nonperforming assets (NPAs) will occur in 2020.
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