Kenanga Research in its report to clients was also optimistic, saying that “while economic conditions may appear pressing, well-managed financial institutions were still successful in gaining headways in balancing market prudence and profitability.
PETALING JAYA: While leading indicators were mixed and asset quality still showed weakness in the latest quarter, the Covid-19 vaccination rollout, supportive government measures and undemanding valuations will continue to provide optimism for the banking sector.
Hong Leong Investment Bank’s research unit said this in a note to clients, adding that for the year just ended, system loans growth for the industry gained traction to 3.8% on a year-on-year basis while deposits remained firm at 5%.
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