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

Crematorium in Bratislava is an architectural revelation Photo

Those who have experienced farewells in other crematoria know what makes it special. Now the best work by the architect Ferdinand Milučký is getting a monograph

Crematorium in Bratislava by architect Ferdinand Milučký

What kind of expectations do some Slovaks have for world leaders?

Among EU member states, opinions of the United States declined in all but two — Poland (which makes some sense) and Slovakia (which does not).

Donald Trump

Crates and boxes. Slovaks discover new ways of grocery shopping

Farmer’s boxes are gaining customers in Slovakia as people slowly become more conscious about quality and the origin of the food they eat.

Foreigners: Top 10 events in Bratislava Video

Tips for the top 10 events in the capital between January 19 and January 28, plus regular services in different languages, training, temporary exhibitions and highlights of the year.

Scandi 4