More corporate loans are expected In Malaysia this year and offset the expected slowdown in household loans this year.
Loans are still expected to grow at a healthy pace in spite of the anticipated slowdown in lending in the consumer segment due in part to the responsible lending guidelines.
According to Maybank president and CEO Datuk Seri Abdul Wahid Omar, loan growth in the corporate segment to is expected to be stronger in 2012 compared with last year because of the various infrastructure financing opportunities arising from the Government's Economic Transformation Programme.
“Our loan portfolio is quite balanced between consumer, corporate and the SMEs and we are expecting continued growth in all these segments. We have not seen any significant slowdown in the consumer segment yet, but we are prepared for a slightly slower growth rate compared with last year,” Abdul Wahid said.
“Overall, on the assumption that the economy would continue to grow, Maybank is targeting our domestic loan growth for financial year 2012 to be 13.6%," he added.
For the source of this story, click here.
Do you know more about this story? Contact us anonymously through this link.