Banks' asset quality can recover to pre-pandemic level by 2023 -- S&P

KUALA LUMPUR (Bernama) -- Malaysian banks' asset quality recovery is expected to be protracted beyond this year and is looking at returning to pre-COVID levels by 2023, said S&P Global Ratings.

South and Southeast Asia (SSEA) Financial Services Ratings director, Ivan Tan said this was because of the delayed economic recovery due to the third wave of COVID-19 which had negatively impacted the banks.