Mongolia Banks’ Outlook Negative
World Economy

Mongolia Banks’ Outlook Negative

Moody’s Investors Service says the negative outlook for Mongolia’s banking system, unchanged since 2013, reflects the challenging operating environment, leading to continued deterioration in asset quality and capital, while funding and liquidity will also remain tight. However, the pace of deterioration will moderate compared to 2015, AKIPress reported. “Although we have seen a moderate pick-up in economic growth in Mongolia, the operating environment remains challenging for banks, with risks skewed to the downside,” Hyun Hee Park, a Moody’s assistant vice president and analyst, said. “Specifically, we expect domestic demand will remain subdued against a backdrop of tight macroeconomic policies and high real interest rates,” Park added. “The greatest downside risk for the banks is a faster drop in commodity prices and a sharper slowdown in GDP growth in China, which we currently forecast at 6.3% in 2016.” Asset quality will remain under pressure, says Moody’s, although the pace of deterioration will be significantly slower than in 2015.


Short URL : http://goo.gl/qILmj3
  1. http://goo.gl/iMHn7j
  • http://goo.gl/wIrBeP
  • http://goo.gl/WSfL1D
  • http://goo.gl/1KjVqE
  • http://goo.gl/HLO9zB

You can also read ...

Automation is eroding jobs.
As workers struggle with the uneven fruits of globalization...
Danish CCI Falls
Denmark’s consumer confidence weakened for the third straight...
Gold Hits Two-Week Low
Gold hit its lowest in over two weeks on Monday, as the dollar...
Kobe Steel Faces Key Debt Test
As Kobe Steel Ltd becomes increasingly embroiled in a data...
Taiwan Jobless Rate Down
The unemployment rate for Taiwan in September moved lower as...
The GDP growth rate would hover around 3% a year.
World Bank’s projection for Kazahstan’s 2017 growth has been...
Brazil Watchdog to Reject Oi Plan
Brazil’s telecoms regulator Anatel on Monday is set to reject...
Pedestrians are reflected on a window displaying share prices of the Tokyo Stock Exchange in Tokyo on October 23, 2017.
Asian stocks ended broadly higher on Monday after the US...