PETALING JAYA: Banks have posted a decent set of earnings in 2021, despite the challenges due to the Covid-19 pandemic and the second six-month blanket loan moratorium on an opt-in basis.
With the reopening of the economy in the fourth quarter of 2021, the demand for loans have returned. However, sector earnings are expected to come in muted in 2022 given the impact of the one-off Cukai Makmur (prosperity tax) on retained earnings.
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