Malaysian banks' loan growth hits 6.1% in April
Business loans grew 7.5%.
According to Maybank Kim Eng, industry loan growth was 6.1% YoY in Apr 2017 versus 6.0% YoY in Mar 2017, with household (HH) loan growth at 5.1% YoY and business loans growth of 7.5% YoY.
"On an annualised basis, however, growth continues to be fairly moderate, with annualised loans growth of 2.9%, led by HH loan growth of 3.3% and business loans growth of 2.3%."
Here's more from Maybank Kim Eng:
On the household front, YoY growth has been stable at 5.1%-5.2% over the past four months. On a segmental basis, mortgage and non-residential property loan growth continues to trend down, expanding 8.7% YoY and 5.0% YoY in Apr 2017. Personal loans growth and credit card growth were at 4% YoY and 2.1% YoY respectively. Auto financing contracted 0.5% YoY in Apr 2017.