Banks take cautious stance amid headwinds

OCBC Bank Malaysia CEO Datuk Ong Eng Bin said significant investments into cybersecurity and data privacy would be required to combat the emerging cyber threat landscape.

PETALING JAYA: Uncertainties over the increasing inflationary pressures, cybersecurity threats and competition from digital banking have led most banks in Malaysia to adopt a more cautious stance, while focusing on key areas that will help improve their bottom lines this year.

OCBC Bank (M) Bhd has envisaged that the heightened cybersecurity threats would continue to pose significant concerns to the digital banking operations and innovation.