Malaysia's large banks able to face competition from innovative digital banks

KUALA LUMPUR: Malaysia's six largest banking groups by assets are well positioned to face competition from innovative digital banks following the announcement of five new digital entrants announced by Bank Negara Malaysia (BNM) recently.

The six banking groups are Malayan Banking Bhd, CIMB Bank Bhd, Public Bank Bhd, RHB Bank Bhd, Hong Leong Bank Bhd and AMMB Holdings Bhd, the holding company for AmBank (M) Bhd.