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‘GDP contraction raising flags over lenders’ asset quality’

Juliet Woodard by Juliet Woodard
September 9, 2020
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Asset quality risks for banks are rising amid the country’s economic contraction, even though risks from corporate loans have decreased from the previous credit cycle, Moody’s Investors Service said in a new report.‘Not immune’“Corporates will not be immune [to risks] from the ongoing economic contraction caused by the coronavirus outbreak,” Srikanth Vadlamani, vice-president and senior credit officer at Moody’s said. “Near-term stress at corporates is already visible in the very weak performance in the quarter ending June 2020,” he added.“However, risks from corporate loans have decreased from 2012-19, when a large amount of corporate loans were impaired. With exposures to most corporates with weak financial health already recognised as NPLs, currently performing loans are better placed to withstand stress,” he said. “Lending in the past few years has been concentrated among stronger [firms] amid an overall slowdown in capital expenditure, while banks have also become more conservative”. “Job losses, declines in income and disruptions to business will strain the finances of retail and SME borrowers significantly,” the report said.

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Dear subscriber,Thank you!Your support for our journalism is invaluable. It’s a support for truth and fairness in journalism. It has helped us keep apace with events and happenings.The Hindu has always stood for journalism that is in the public interest. At this difficult time, it becomes even more important that we have access to information that has a bearing on our health and well-being, our lives, and livelihoods. As a subscriber, you are not only a beneficiary of our work but also its enabler.We also reiterate here the promise that our team of reporters, copy editors, fact-checkers, designers, and photographers will deliver quality journalism that stays away from vested interest and political propaganda.Suresh Nambath

Juliet Woodard

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