Risks on the rise for banks as Singapore's economy shrinks

Bad loans are on the rise.

Slumping property and oil prices have dragged a gauge of Singaporean banks’ loan quality to the worst in six years, inflating their borrowing costs.

According to a report by Bloomberg, lenders have placed 2.3 percent of their loan books in a “special mention” category that signals potential weakness, the highest since 2009.

The extra yield investors demand to hold DBS Group Holdings Ltd. 2019 dollar notes over Treasuries surged to a record 87 basis points last month. Similar measures for United Overseas Bank Ltd. and Oversea-Chinese Banking Corp. are the highest in at least six months.

Read the full report here.

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