Company bankruptcy petitions in Singapore back at GFC levels

Provisioning levels should rise to more normal levels in the coming quarters, says CIMB.

According to CIMB, leading asset quality indicators like credit card charge-off rate and company bankruptcy petitions are now a touch above the 5-year historical average and the global financial crisis average, respectively.

"Although local banks did a pre-emptive round of provisioning in 4Q11, we see scope for further increases in provisioning."