expects the country’s growth to moderate, going further into 2023, as external trade softens in tandem with a slowdown in domestic demand, which will put the brakes on loan take-up rates for the banking industry.
Chairman Tan Sri Zamzamzairani Mohd Isa told a media briefing on Maybank’s financial results that the positive performance was underpinned by improving regional economic activities and the gradual reopening of Asean, especially in the fourth quarter, which supported the group’s high operating income.
While the group has seen its loans grow 6.7% in Malaysia last year, Khairussaleh said he is expecting loan take-up to moderate in 2023. Notably, Maybank is of the opinion that Bank Negara could bring about one more 25-basis-point OPR hike this year to close at 3%, acknowledging that whatever moves the central bank makes would be driven by relevant and current data.