Value of loan applications in 2002 highest in 5 years

LOAN applications and approvals in 2002 were the highest level recorded in value terms in five years, with total loans disbursed amounting to RM412bil, the highest since 1997. 

Loan applications and approvals by the banking institutions turned around in 2002 from negative growth rates of 8.7% and 6.8% respectively in 2001, rising by 14.1% and 9.7% respectively in 2002.