Banks cautiously optimistic on loan growth

TheStar Mon, Jan 30, 2023 12:00am - 1 month View Original

The outlook is relatively benign with spillover of growth headwinds from 2022; Malaysia is not at risk of a recession as its fundamentals remain solid while regional economic prospects are not as gloomy as initially feared, said Bank Islam CEO Mohamad Muazzam.

BANKS are cautiously optimistic of loan growth as businesses take a more cautious stance, while consumers will continue to feel the impact from higher inflation.

Loan growth is expected at between 4% and 5.5% in 2023, on the back of Malaysia’s economic stability which will support the creditworthiness of local businesses and consumers.

It had moderated at the end of November 2022, to 5.5% (6.5% in October 2022) as business loan growth slowed to 3.4% (5.2% in October, 2022).


Full Article on TheStar

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.

Related Stocks

BIMB 2.170
CIMB 5.160
PBBANK 3.930


Login to comment.