Banks’ yearly loan growth contracted -5.2pc in April as pandemic halts spending
Wednesday, 20 May 2020 02:35 PM MYTMembers of the public observe social distancing guidelines as they queue outside a Maybank branch in Shah Alam March 26, 2020. — Picture by Miera Zulyana
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.
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