Malaysia: Banks’ yearly loan growth contracted 5.2pc in April as pandemic halts spending

• May 20, 2020

KUALA LUMPUR, May 20 — Banks saw their yearly loan growth shrunk 5.2 per cent in April with personal loans accounted for the sharpest decline at -18.2 percentage points year-on-year, official figures released today showed.

Slightly over RM107 billion in loans were approved within that period, a record low to culminate in an already slowing lending momentum from the final half of 2019. 

But lenders are likely to welcome April’s sluggish figure, which jumped 8.8 per cent from the previous month. Total loans disbursed in March amounted to a meagre RM95.3 billion.

Source: https://www.malaymail.com/news/malaysia/2020/05/20/banks-yearly-loan-growth-contracted-5.2pc-in-april-as-pandemic-halts-spendi/1867965