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Banks’ bad debts will spike this year, asset manager expert warns

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Investment head says previously hidden credit problems will appear as net interest profit margins are squeezed and easy money dries up

The global banking industry will see a spike in bad debt cases this year at the same time as its net interest profit margins come under significant pressure, the head of a leading global asset manager has warned.

“In a year from now, we’re going to see the pristine balance sheets of banks start to see an uptick in cyclical bad debt situations, at the same time as their income statements get pinched,” Michael Kelly, global head of multi-assets for PineBridge Investments, told the Business Post.

 

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