simon sinek article
KUALA LUMPUR: Broad money or M3 growth moderated to 2.9% in November, compared to a growth of 3.2% in October.
In a statement, Bank Negara Malaysia (BNM) said the expansion in M3 was driven mainly by the continued extension of credit to the private sector by the banking system.
The expansion, however, was partially offset by the continued growth of Islamic Investment Accounts, as reflected in other influences, and decline in net foreign assets due to net capital outflows during the month.
Net financing to the private sector registered an annual growth of 6.7% in November (October: 6.5%).
This was driven by the higher growth of loans extended by the banking system and development financial institutions (DFIs), amid some moderation in the growth of net outstanding corporate bonds during the month.
Outstanding business loans of the banking system recorded a higher annual growth of 4.6% (October: 2.9%), with growth driven by the year-on-year expansion in most major sectors.
In particular, the annual growth in outstanding SME loans continued to increase to 9.3% (October: 8.9%).
For households, outstanding loans of the banking system grew at a stable pace of 5.4% in November (October: 5.4%) amid sustained growth in outstanding loans for the purchase of residential property.
Overall loan demand increased during the month with higher level of loan applications from both businesses and households (November: RM71.3bil; October: RM69il). - Bernama
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