Within Malaysia, banks have been pouring money into this area, some more than others, as customers increasingly move away from over-the-counter services towards digital transactions.
IN a 58-page report by McKinsey & Company entitled “The last pit stop? Time for bold late-cycle moves” released just earlier this month, the international management consulting firm warned that “a decade on from the global financial crisis, signs that the banking industry has entered the late phase of the economic cycle are clear”.
“Growth in volumes and top-line revenues is slowing with loan growth of just 4% in 2018, ” it says.
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