Based on its 'Malaysian Banks Outlook 2023: Prepared For Tougher Conditions” report, the rating agency said that rising interest rates and higher funding costs would drag on credit demand in Malaysia.
Based on its"Malaysian Banks Outlook 2023: Prepared For Tougher Conditions” report, the rating agency said that rising interest rates and higher funding costs would drag on credit demand in Malaysia.
The rating agency said Malaysia's economy is projected to expand by 3.2 per cent in 2023,"a large comedown from the strong post-pandemic recovery of 8.7 per cent in 2022.” Moreover, it reckons"sector-wide return on assets could stay flattish at 1.4 per cent in 2023, as the expected decline in net interest margins would be balanced by normalisation in tax rates.”
It also stressed that"low-income households and small and medium enterprises would be vulnerable to rising costs.” Nevertheless,"banks' adequate provisioning buffers should help them absorb accelerating credit risks.”
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