Loans are being given to eligible borrowers

WITH reference to recent media reports on calls to relax the criteria for potential buyers of affordable housing, the Association of Banks Malaysia (ABM) would like to reiterate that its member banks, which comprise the commercial banks operating in Malaysia, have been and will continue to provide home loans to eligible borrowers. Commercial banks are in the business of lending and financing will be extended to viable applicants.

From January to May 2017, commercial banks approved over RM25.7bil and disbursed in excess of RM24.6bil in loans for the purchase of residential property. Housing loans form the single largest component of commercial banks’ total loan portfolio, representing 34.4% of the total outstanding loans as at end May 2017.