Spectator on facebook

Spectator on facebook

Moody's lowers outlook on Slovak banking sector to negative

Moody's Investors Service has lowered its outlook on Slovakia's banking system from stable to negative. The reason Moody's gave was the risk of weaker economic growth and asset quality in the sector, the agency stated in its latest report on the outlook for the country's banking system, which was released on Tuesday, March 27.

Moody's Investors Service has lowered its outlook on Slovakia's banking system from stable to negative. The reason Moody's gave was the risk of weaker economic growth and asset quality in the sector, the agency stated in its latest report on the outlook for the country's banking system, which was released on Tuesday, March 27.

Moody's estimates that the European Union's economic downturn will put pressure on asset quality and profits in the sector, the SITA newswire reported. These factors are mitigated by expectations that the sector will maintain good liquidity and adequate capitalisation. Moody's expects Slovakia's gross domestic product (GDP) growth to decelerate to about 1.7 percent in 2012, from 3.1 percent in 2011 and 4 percent in 2010. Despite profit growth over the last two years, Moody's predicted that the weakened business environment will mean that profits now fall.

Source: SITA

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

Námestie Slobody gets facelift Photo

The architectural tender will gather ideas for the redesign of the biggest square in Bratislava

Námestie Slobody will be redesigned into a kind of living room in the city.

When the state can’t keep a secret

A selective leak has tarnished President Kiska’s reputation. But he must continue to speak out about corruption.

President Andrej Kiska

Fundamental values explored at Divadelná Nitra 2017

This time round, the Slovak, European and US ensembles at the theatre festival focus on #fundamentals, i.e. basic values and the essence of all things.

Nature Theatre of Oklahoma: Pursuit of Happiness

Foreign rocket engines for North Korea: Why?

For Russia, the path to a weakened China could be through a major nuclear accident in North Korea.