Global financial markets to weigh on fee income
“The rebound in consumption and business activities from the depressed levels during the lockdowns, should see banks achieving mid-single digit loan growth for 2022. That said, expectations for a better 2H22 and 2023 were however, beginning to wane as risks to growth were tilted towards the downside, the research house said.
It expects the sector credit cost to be a lower 40 basis points in 2022 and that the rise in interest rates can be absorbed by borrowers with no material negative impact on asset quality.
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