Lim: The bank has enough data capabilities and accuracy to comply with MFRS 9.
PETALING JAYA: Sumitomo Mitsui Banking Corp Malaysia Bhd (SMBC Malaysia) does not expect the new accounting standard MFRS 9 to impact its earnings amid forecasts by analysts that banks could incur higher provisions that could dampen earnings.
The bank’s deputy CEO Anthony Lim told StarBiz that SMBC Malaysia is not expected to make additional provisions under the new standard, as it currently adopts stringent relevant accounting ratios similar to its head office in Japan.
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