March 8, 2020 / 10:52 PM / 24 days ago

BRIEF-Fitch Says Covid-19 Adds Pressure To Australia, New Zealand Bank Earnings

March 8 (Reuters) - Fitch:

* FITCH SAYS COVID-19 ADDS PRESSURE TO AUSTRALIA, NEW ZEALAND BANK EARNINGS

* FITCH SAYS AUSTRALIAN BANKS LIKELY TO FACE FURTHER CHALLENGES TO EARNINGS IN 2020 DUE TO CASH RATE CUTS

* FITCH-OUTBREAK WOULD INCREASE RISK OF BROAD DETERIORATION IN ASSET QUALITY FOR AUSTRALIA, NEW ZEALAND BANKS REFLECTING SLOWING GLOBAL ECONOMIC GROWTH

* FITCH SAYS ALSO HAS A NEGATIVE SECTOR OUTLOOK FOR AUSTRALIAN BANKING SYSTEM

* FITCH SAYS COVID-19 OUTBREAK POSES MODEST DIRECT ASSET QUALITY PRESSURE TO AUSTRALIAN AND NEW ZEALAND BANKS IN NEAR TERM

* FITCH SAYS BELIEVES MAJOR BANKS IN AUSTRALIA AND NEW ZEALAND ARE WELL-CAPITALISED TO WITHSTAND ANY POTENTIAL IMPACT FROM OUTBREAK IN SHORT TERM Source text for Eikon:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below