Large banks able to face competition from digital lenders

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

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.

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