Moody’s alters Bank Tabungan view to negative

Moody’s Investors Service said it revised the outlook for Bank Tabungan Negara to negative from stable.

“The change in outlook to negative reflects risks to the bank's asset quality, as the economic contraction caused by the coronavirus pandemic has exacerbated pre-existing weaknesses in its loan portfolio. The negative outlook also considers BTN's modest ability to absorb losses in the form of pre-provision income and capital when compared to its rated peers in Indonesia,” Moody’s said in a press release.

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