Higher savings since the start of MCO

Higher savings

PETALING JAYA: Despite the low rates offered to customers, banks continue to see a surge in deposits since the start of the movement control order (MCO) in March.

A senior banker told StarBiz that most, if not all banks have seen double-digit growth in their deposits, specifically, current account savings account (CASA) figures as consumers are choosing to be conservative and are “playing safe” by increasing their savings amid the current uncertain economic environment.