World Economy

Bermuda Banking System Stable

Bermuda Banking System StableBermuda Banking System Stable

The outlook for Bermuda’s banking system is stable with improving asset quality, strong capital buffers and sound liquidity, which balances profitability challenges, Moody’s Investors Service has said in a new report, royalgazette reported. The outlook expresses the credit rating agency’s expectation of how bank creditworthiness will evolve in this system over the next 12 to 18 months. “The operating environment will improve as Bermuda emerges from a six-year recession,” said Jeanne Del Casino, a Moody’s vice-president. Moody’s forecast real GDP growth of 1 to 2% this year and next year, following an estimate of flat growth for 2016.


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