Banks see higher fixed deposit uptake following MPC meeting FMTNews FMTBusiness
PETALING JAYA: Fixed deposits saw a surge in uptake in March, increasing 8.9% year-on-year and 1.9% from the previous month.
Loan growth has also stabilised, growing around 5% year-on-year, while month-on-month growth is small but shows no decline. Despite improvements in these indicators, MIDF expects net interest margin pressure to lead to a lacklustre Q1 2023 earnings season due to deposit competition.
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