Moody's revises Malaysian banks outlook to stable from negative

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Moody's Investors Service has revised Malaysia's banking system outlook to stable from negative to reflect an improving operating environment.It expects banks' prudent underwriting, together with strong capital and liquidity, will shield banks from any incremental financial stress caused by the Covid-19 pandemic.In a research note today, Moody’s said operating conditions will improve as Malaysia's real gross domestic product will expand 6.2 percent this year after contracting 5.6 percent in 2020, supported by the government's fiscal spending and a recovery in global demand that will provide a boost to the country's net exports.It said banks asset quality will remain stable despite the increase in non-performing loans when forbearance and support measures for borrowers end, on the back of proactive increases in loan-loss provisioning in 2020 which will e…