save malaysia!

January records higher loan growth, boosted by investment-related loans, household demand — BNM

Publish date: Thu, 29 Feb 2024, 05:38 PM

KUALA LUMPUR (Feb 29): Malaysia saw an overall improvement in loan growth, with credit to the private non-financial sector growing at a faster pace of 5% year-on-year (y-o-y) as at end-January, compared with 4.7% in December 2023.

Outstanding loans grew 5.4% y-o-y, as compared to the 4.9% recorded in December last year, Bank Negara Malaysia (BNM) said in its Monthly Highlights Report on January 2024, released on Thursday.

Outstanding business loan growth climbed 4.2% in January 2024 compared to 3.6% in December last year, on the back of higher growth in investment-related loans.

The competition for tech talent has existed since before the outbreak of the Covid-19 pandemic and with tech advancing rapidly, there is a widening gap between the ever-changing needs of industries and the academic curriculum of tertiary educational institutions. To bridge this gap, passionate industry players are taking bold steps by providing upskilling opportunities that ensure graduates are industry-ready.

Growth in outstanding loans to small and medium enterprises remained forthcoming albeit with a marginal decline to 8% from 8.2% in December last year, while outstanding corporate bonds moderated to 3.6% from 4.2%, said the central bank.

In the household segment, outstanding loan growth increased to 6% from 5.6% with sustained growth across most loan purposes.

“This was reflective of the continued demand for loans, especially for the purchase of houses and cars,” it said.

BNM also said banks continued to record healthy liquidity buffers, with the aggregate liquidity coverage ratio at 160.2% (from 160.9%).

The aggregate loan-to-fund ratio remained broadly stable at 81.6% (from 81.8%).

Be the first to like this. Showing 0 of 0 comments

Post a Comment