Malaysia logs 5.1% non-bank sector credit growth in October

Business loans and corporate bonds boosted credit for the month.

Malaysia saw higher credit growth to its private non-financial sector in October, on the back of more business lines and corporate bonds.

Private non-financial sector credit grew by 5.1% in October 2024, extending the 4.8% growth the month before, according to data from the Bank Negara Malaysia (BNM).

Business loans grew by 5.3% during the month, whilst corporate bonds rose by 2.6%.

The increase in business loan growth was driven by higher growth in non-SME loans across purposes, whilst loan growth for SMEs remained, the BNM said.

Loan applications were higher during the month, which the central bank said reflected steady demand for financing among businesses.

For households, loan growth was 6.1% for the month.

The overall gross impaired loans ratio was 1.5%, whilst the net impaired loans ratio improved slightly to 0.9% in October from 1% in September.

Loan loss coverage ratio (including regulatory reserves) was 126.6% of impaired loans in October, rising from 125.1% in September.

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