The more contained impact is partly due to the front-loading of provisions by banks in 2020, according to Bank Negara in its Financial Stability Review for Second Half 2020. Last year, banks’ pre-tax profit declined by 24.8%, marking the biggest fall since the 1997 Asian Financial Crisis.
PETALING JAYA: Banks are likely to see continued downward pressure on earnings in the first half of 2021, although the impact could be less severe than last year.
The more contained impact is partly due to the front-loading of provisions by banks in 2020, according to Bank Negara in its Financial Stability Review for Second Half 2020.
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