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S&P expects that the Corona Virus crisis will cost banks around the world $ 2.1 trillion in loan losses by the end of next year.
According to ArabiaNet, S&P expects loan losses in the current year to be $ 1.3 trillion, which is more than twice the level of 2019.
It is likely that about 60% of these losses will be in the Asia Pacific region, even if the largest relative increases, exceeding the two rates on average compared to 2019, will occur in North America and Western Europe.
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