More competition

OCBC Bank (M) Bhd Datuk Ong Eng Bin for one expects new digital banks to gain traction in terms of market share due to the current market dynamics, even if these are not necessarily OCBC Bank’s target segments.

PETALING JAYA: With fresh digital banking licences dished out in Malaysia recently, there will surely be disruption within the industry, leading to a fight for market share.

Most bankers are aware of this although much has been said about digital banks not being an immediate threat to incumbent local banks.