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Moody's revises outlook on South Korea's banking system

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Moody's revises outlook on South Korea's banking system

Moody's revised its outlook on South Korea's banking system to stable from negative following taking actions on the country's commercial banks.

The rating agency said the outlook revision reflects its assessment that overall creditworthiness of South Korean banks will be stable over the next 12 months to 18 months. South Korea's economy is growing at the strongest pace among G-20 countries and has resulted in an improved operating environment for banks.

Moody's said it has raised its forecast for South Korea's real GDP growth to 3% for 2017 and 2.8% for 2018, from 2.5% and 2.0%, respectively.

The rating agency said all five key drivers for South Korea's banking system outlook are stable: operating environment, asset risk and capital, funding and liquidity, profitability and efficiency, and government support.