RAM’s co-head of financial institution ratings Wong Yin Ching said: “The average net interest margin (NIM) of our eight selected local banking groups rebounded 14 bps y-o-y to an annualised 2.31% in Q1 2021."
KUALA LUMPUR: The banking industry’s profitability recovered in Q1 of 2021 after last year’s slump but RAM Ratings expressed concern about the highly uncertain operating environment and the impact on the industry’s profit outlook.
The rating agency said in a statement yesterday the top five largest banking groups reported a year-on-year (y-o-y) increase in profit before tax ranging from 13% to 114%, after adjusting for one-off items.
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