for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Healthcare

BRIEF-Fitch Says Covid-19 Adds Pressure To Australia, New Zealand Bank Earnings

March 8 (Reuters) - Fitch:

* FITCH SAYS COVID-19 ADDS PRESSURE TO AUSTRALIA, NEW ZEALAND BANK EARNINGS

* FITCH SAYS AUSTRALIAN BANKS LIKELY TO FACE FURTHER CHALLENGES TO EARNINGS IN 2020 DUE TO CASH RATE CUTS

* FITCH-OUTBREAK WOULD INCREASE RISK OF BROAD DETERIORATION IN ASSET QUALITY FOR AUSTRALIA, NEW ZEALAND BANKS REFLECTING SLOWING GLOBAL ECONOMIC GROWTH

* FITCH SAYS ALSO HAS A NEGATIVE SECTOR OUTLOOK FOR AUSTRALIAN BANKING SYSTEM

* FITCH SAYS COVID-19 OUTBREAK POSES MODEST DIRECT ASSET QUALITY PRESSURE TO AUSTRALIAN AND NEW ZEALAND BANKS IN NEAR TERM

* FITCH SAYS BELIEVES MAJOR BANKS IN AUSTRALIA AND NEW ZEALAND ARE WELL-CAPITALISED TO WITHSTAND ANY POTENTIAL IMPACT FROM OUTBREAK IN SHORT TERM Source text for Eikon:

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up