Malaysian banks continue to show resilience in 2021 despite economic headwinds

KUALA LUMPUR: Malaysian banks continued to display resilience in 2021 and performed better than in the previous year despite persistent economic headwinds with prolonged movement restrictions, moratoriums and repayment assistance, thanks to the buffers and structural strength built over the years.

The year obviously kicked off on a high note with Bank Negara Malaysia’s (BNM) growth target set at 6-7.5 per cent, but it was later revised down to 3-4 per cent amid the re-imposition of COVID-19 containment measures.