Banks prepare for new standard

Teoh: ‘High impairment losses provison is expected from the implementation of MFRS 9.’

They have less than two years to upgrade systems to adopt the expected loss model

With the deadline looming closer, banks are busy upgrading their sySTEMs and processes to meet the new standard on loan impairment under MFRS 9 which involves higher provisions that could take a toll on their earnings.