‘Little fallout’ expected from Hanjin bankruptcyhome/Business/Top Business/‘Little fallout’ expected from Hanjin bankruptcyThe Philippine financial system is unlikely to be shaken by the bankruptcy of a Subic-based shipbuilder, a Fitch unit said, although challenges should be expected overall given a possible economic slowdown. “We expect little fallout for the banking system as a whole from the default due to three reasons. Firstly, there is little concentration risk,” the Fitch unit said. Following Moody’s assessment, the four listed banks told the Philippine Stock Exchange that they could weather any potential losses from a Hanjin default. BPI said that its $52-million exposure was about 0.20 percent of its total loan book.

Source: Manila Times January 15, 2019 16:33 UTC