Banking Industry In Malaysia 2020

The malaysian banking sector comprised 54 banks as at the end of 2017.

Banking industry in malaysia 2020. While foreign banks been present in malaysia from the inception of the modern banking industry in the country domestic banks have come to dominate the country s banking sector. Or an l shaped one where there are four years of negative growth a scenario never before. The latest data can be downloaded from our monthly statistical bulletin in pdf or xls format. A part of media prima group.

It serves as the country s central bank responsible for promoting monetary and financial stability. Banking players and research houses are modest on the local sector s outlook amid another challenging year in 2020. The country s financial institutions are governed by the bank negara malaysia which was established in 1959. Tun dr mahathir mohamad started malaysia on a move towards becoming a cyber nation in 1996 ahead of other countries back then.

Budget 2020 strives to strike a balance between the immediate and medium term needs of the country. A v shaped one where negative growth is followed by recovery. For 2020 bank negara has forecast that gdp growth will be between 2 and 0 5. Below is a list of key financial indicators of licensed financial institutions in malaysia.

Meanwhile unemployment is expected to rise to 4 this year. Banks in malaysia some of which are the largest in southeast asia offer a comprehensive range of banking and financial services. Maybank group president and ceo datuk abdul farid alias who is also chairman of association of banks in malaysia. Retail banking in malaysia coronavirus covid 19 sector impact.

2020 new straits times new straits times press m bhd. Banking industry in malaysia witnessed a surge in total assets at 2 303 malaysia ringgit in billions as of 2015 with a large portion of this coming from deposits.