Too early to predict

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“We await the announced outcome and allow banks to distil the impact and/or provide some pushback.'

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“We await the announced outcome and allow banks to distil the impact and/or provide some pushback,” CLSA banking analyst Peter Kong tells clients in a report.

On Tuesday, the MoF said in a statement that it had instructed banking institutions to quickly work on exemption of interest rate payments for recipients under the country’s moratorium programme. While borrowers do not have to make payments on their loans under a moratorium period, the downside of it is that interest tends to accrue as a result of taking up the moratorium, and the borrower will have to bear this interest.

“We will continue to focus on helping our customers navigate the economic challenges caused by the pandemic,” he tells StarBizWeek. Abdul Rahman says beyond the repayment assistance, CIMB continues to provide support to communities in need and also to the national healthcare system. “We have taken an additional RM87mil of overlay in the first quarter of financial year ending March 31, 2022 , which is necessary at this juncture, with total overlay carried forward standing at RM833mil now,” he tells StarBizWeek.

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