Worst over for banks, O&G firms?

BANKS and oil and gas companies made record provisions for bad debts in 2016 and have probably seen the worst in this aspect, at least for now.

The country’s largest bank Malayan Banking Bhd (Maybank) for instance, made provisions of RM3bil last year against RM2bil a year earlier. CIMB Group Holdings Bhd (CIMB), the country’s second largest lender, made provisions of RM2.40bil in 2016 and a lower RM2.17bil in 2015.