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Coronavirus impact a key factor for China and Singapore banks

Exposure to sectors such as oil and gas also under scrutiny ahead of results

Chinese banks must consider how many "rainy day" provisions to make, given the effects of the coronavirus pandemic.   © Reuters

HONG KONG/SINGAPORE -- Leading banks in China and Singapore will come under the spotlight this week over how they deal with the balance sheet impact of the coronavirus pandemic and exposure to the troubled oil and gas sectors.

The pandemic has prompted a sharp deterioration in creditworthiness for borrowers worldwide, with consequent knock-on effects for lenders. The six largest U.S. banks raised provisions by 350% in the first quarter to prepare for expected loan losses.

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