Finance Minister: Banks will suffer RM6.4b in total over loan moratorium
Monday, 27 Jul 2020 10:53 AM MYTFinance Minister Datuk Seri Tengku Zafrul Abdul Aziz at a press conference in Putrajaya May 8, 2020. — Bernama pic
KUALA LUMPUR, July 27 — Malaysia’s banks suffered losses of RM1.06 billion monthly, owing to the six-months loan moratorium period, Finance Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz said today. Tengku Zafrul told Parliament that collectively, banks will suffer a loss of RM6.4 billion until the moratorium ends.
Last week, Tengku Zafrul said that borrowers must begin servicing their loans from October as the repayment moratorium will end as scheduled in September. He told Parliament that banks will instead take a targeted approach in helping borrowers restructure their existing loans.
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