Banks’ earnings show real economy

TheStar Sat, May 23, 2020 08:50am - 3 years View Original


Maybank president and group CEO Datuk Abdul Farid Alias notes that the first-quarter results do not represent how the bank will perform for the rest of the year.

WITH THE banking sector being said to be the lifeline of any modern economy, the results of major banks are a key indicator on the state of the real economy.

Just this week, a number of large banks announced their results, generally showing a drop in earnings, and coupled with warnings of the uncertain economic times.

Banks are also taking a cautious approach in tackling the pandemic, being prudent by increasing their provisions.

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