Total systems deposits growth picked up by 5.8% in July.
Deposit growth at Malaysian banks outpaced current and savings account (CASA) growth for the second consecutive month in July, according to Maybank Kim Eng.
Total systems deposit growth picked up at a faster pace from 5% in June to 5.8% in July whilst CASA growth slowed to 3.8% over the same period.
Business and government deposits which rose 7.7% and 9.2% led deposit gains in July. Individual deposits expanded at a stable pace from 5.4% in June to 5.5% in July.
Financial institution (FI) deposits also expanded 1.4% in July, after a protracted slump that lasted seven consecutive months.
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