banking. Moody’s predicts “solid earnings” in 2023

banking. Moody’s forecasts “solid earnings” in 2023

The financial rating agency Moody’s predicts “solid profits” for the bank next year. “Global banks will be protected from the increase in bad loans in 2023 by rising interest rates and solid reserves and the outlook for the sector remains stable”, explains Moody’s in a report released this Thursday.

The senior vice-president of credit at the financial rating agency says that even if there is a “weakened and more volatile macroeconomic environment”, banks “will report solid profits in 2023”.

Edoardo Calandro also says that “the increase in interest rates will allow the continued generation of capital on top of already strong capital, while liquidity and funding will remain robust, even with the dismal economic conditions in much of the world causing a deterioration in loan performance . Banking credit quality will remain globally stable”, maintains Edoardo Calandro.

The banks that will most benefit from the higher rates are those in North America, the Middle East, some countries in Western Europe and Asia-Pacific, with the exception of China.

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Source: Jornal i by ionline.sapo.pt.

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