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KUALA LUMPUR: The year 2020 has been gloomy so far, with dark clouds expected to continue casting shadows as the Covid-19 (coronavirus) pandemic carved its devastating path through economies worldwide, leading many to come face-to-face with recession.
KUALA LUMPUR: Hong Leong Bank Bhd’s (HLB) posted a lower net profit of RM534.7mil in the third quarter ended March 31, against RM633.8mil in the same period last year, due to operating expenses and allowance for impairment losses. KUALA LUMPUR: Hong Leong Bank Bhd’s (HLB) posted a lower net profit of RM534.7mil in the third quarter ended March 31, against RM633.8mil in the same period last year, due to higher allowance for impairment losses.KUALA LUMPUR: Hong Leong Bank Bhd’s (HLB) posted a lower net profit of RM534.7mil in the third quarter ended March 31, against RM633.8mil in the same period last year, due to higher operating expenses.
KUALA LUMPUR: While digital banks are disruptors relative to traditional banks and will intensify competition, their impact will be limited in the next three years, given the regulatory restrictions on their asset size, that is, not more than RM2 billion, said RAM Rating Sdn Bhd (RAM Ratings).
KUALA LUMPUR: The country’s banking sector is expected to be under constraints this year especially in terms of income and loan growth due to effects from the COVID-19 pandemic which has adversely impacted the local as well as the global economy.
KUALA LUMPUR: Fitch Solutions Country Risk & Industry Research expects the Overnight Policy Rate (OPR) to be cut to 1.00% by the end of 2020.
KUALA LUMPUR: Bank Islam Malaysia Bhd is revising its Base Rate (BR) by 50 basis points from 3.27% to 2.77% per annum, while Base Financing Rate (BFR) is revised from 6.22% to 5.72% per annum.
SINGAPORE: Asian currencies were mostly firmer on Tuesday, as easing lockdowns in some parts of the world offset worries about rising tensions between China and the United States.
Q: It was previously announced that the six-month payment deferment for Hire-Purchase (HP) and fixed rate Islamic financing is automatic.
THE impact of the ongoing COVID-19 pandemic is causing concerns and putting a strain on the revenue of many smaller businesses.
KUALA LUMPUR: Bank Negara Malaysia (BNM) regrets the confusion that arose from misperception, which is to some extent caused by an illustration provided in its earlier version of frequently asked questions (FAQs), where certain assumptions and caveats were made.