SINGAPORE - Singapore banks are likely to suffer weaker loan growth and more volatile earnings in light of the coronavirus outbreak, but are sufficiently equipped with"good capital buffers" to weather the immediate negative impact, S&P Global Ratings said in a statement on Monday .
In addition, retail malls, particularly those in popular tourist shopping belts, could be affected as well, which would hurt consumption spending and loan growth for Singapore. "In this scenario, job losses in the tourism and general commercial sectors would cascade to higher delinquencies on credit card receivables and, to a lesser extent, residential mortgage portfolios."
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