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Budget 2022 positive for banks, SGX, says Maybank Securities Singapore

The Edge Singapore
The Edge Singapore2/19/2022 03:59 PM GMT+08  • 3 min read
Budget 2022 positive for banks, SGX, says Maybank Securities Singapore
Risks of non-performing loans can be lowered
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The additional $500 million jobs and business support package for SMEs announced as part of Budget 2022 is deemed positive for the three local banks, given how they will enjoy some relief from fallout of the pandemic.

As such, risks of non-performing loans – which is already at a level deemed “benign” - can be further lowered. In addition, the banks get to enjoy potential fee and loan growth, says Maybank Securities Singapore in a post-Budget commentary on Feb 19.

Furthermore, with more green bonds to be issued – as part of the wider push towards sustainability – Singapore’s green financing ecosystem can enjoy a lift, leading to potential higher fee income and incremental loan growth for the banks.

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