S&p: Global Banks could suffer $2.1 trillion in loan losses as a result of the coronavirus

2020-07-12 14:33:35

OsmanSattar led the team of analysts said that this year's global credit losses may be more than doubled, to $1.3 trillion, or to reach $800 billion next year, because of the outbreak a drag on the economy increase in North America and Western Europe this year, the loss of growth will fastest, and the asia-pacific region will account for 60% of the total losses, analysts said in 2019 signals the end of the period for several years moderate credit losses;metal shredder machine manufacturer in gujarat

But "further increases" will weigh on ratings. Operating losses at some Banks will be inevitable.

Asset quality and credit losses could also worsen if the government cuts support too soon, leading to a longer and deeper economic contraction