PETALING JAYA: The Malaysian banking sector as a bellwether of the economy is expected to see improvement in loan growth of between 4% and 5% in 2024, with consumer loans outpacing business loans amid external uncertainties.
Industry experts said in spite of lingering uncertainties next year due to the anticipated slower global economic growth, China’s economy losing steam and higher interest rates impacting business activities and consumption, the local banking sector is poised to weather these challenges and register a relatively healthy loan growth.
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