ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Finance

Singapore banks set tone for ASEAN peers in reducing bad debts

Lenders' profits improve as COVID recovery reduces nonperforming loans

Singapore banks buck fears that ASEAN lenders are being flooded by pools of nonperforming loans. (Photo by Shinya Sawai)

SINGAPORE -- Singapore lenders DBS Group Holdings and United Overseas Bank are pushing back bad debts after a difficult, COVID-pressured 2020, setting the tone for their regional peers in recovering from the pandemic's ill effects.

The virus crisis has allowed pools of nonperforming loans to accumulate in the Association of Southeast Asian Nations, as consumers and businesses struggle with poor economic conditions and face growing hardships in paying back their debts.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more