PETALING JAYA: Banking statistics for March 2024 show strong loan growth, while deposit and current account and savings account are growing healthily.
Loans growth edged upwards to 6% in March , driven by increases in both the household and business segments. According to the research firm, the sector’s risk to reward is well balanced in the absence of strong catalysts. But the sector’s 2024 earnings growth is expected to lag the broader equity market-projected 11% rise in 2024 earnings.
“Going forward, we are still not particularly worried about any asset quality weakness as banks are better equipped versus prior slumps. “We also see its possible overlay write-backs to be a catalyst for more generous dividend payouts which may mirror more frequent payouts during the year,” it said.
Source: Financial Digest (financialdigest.net)
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