By James Lamont in New Delhi and Farhan Bokhari in Islamabad
Published: September 3 2010 11:58 | Last updated: September 3 2010 11:58
Fears are mounting that Pakistan’s flood crisis – so far confined largely to rural areas – will begin to take its toll on the country’s formal economy, undermining the country’s previously strong banking sector.
Moody’s Investor Service, the credit rating agency, has warned that the country’s main banks face the threat of a wave of non-performing loans as the natural disaster undermines Pakistan’s financial fundamentals.
FT.com / Asia-Pacific / Pakistan - Pakistan banks at risk from flood impact