Bank Negara forecasts GDP growth of 6.5% to 7.5% but downside risks remain
KUALA LUMPUR (Nov 13): The country’s gross domestic product (GDP) is expected to recover in 2021 and to grow in the range of 6.
BNM governor: Government still has additional fiscal space to support economy
KUALA LUMPUR (Nov 13): Bank Negara Malaysia (BNM) governor Datuk Nor Shamsiah Yunus (pictured) said with the new statutory debt level of 60%, the government still has additional fiscal space in the event further support is needed to be lent out to the economy.
Alliance Bank staff tests positive for Covid-19
KUALA LUMPUR (Nov 12): Alliance Bank Malaysia Bhd said one of its non-client facing employees tested positive for Covid-19 yesterday.
RHB Bank and RHB Insurance Kajang branch temporarily closed
KUALA LUMPUR (Nov 9): RHB Banking Group said RHB Bank and RHB Insurance Kajang Branch, co-located within the same premises, will be closed from today (Nov 9, 2020) until further notice to enable sanitisation and as a precautionary measure to ensure health and safety of customers and employees.
Embracing challenges
The third wave of Covid-19 in Malaysia has shaken shoppers’ confidence and also become the final straw that has broken the camel’s back for some retailers, in turn hurting the mall operators’ rental revenue and future expansion plans.
BNM maintains OPR at 1.75% at final monetary policy meeting for 2020
KUALA LUMPUR (Nov 3): Bank Negara Malaysia (BNM) has decided to maintain the Overnight Policy Rate (OPR) at 1.
FINMA cuts BSI Bank's 1MDB penalty to 70 million Swiss francs
KUALA LUMPUR (Oct 23): The Swiss Financial Market Supervisory Authority (FINMA) has reduced the amount of money to be confiscated from BSI Bank to 70 million Swiss francs, from the original 95 million francs after reassessing the disgorgement of profit in the 1Malaysia Development Bhd (1MDB) enforcement case against the bank.
Warning of 'poverty clusters', NUBE calls for govt, banks to extend blanket loan moratorium
KUALA LUMPUR (Oct 17): The National Union of Bank Employees (NUBE) is demanding urgent reinstatement of the blanket loan moratorium by a further two to three months across the country at least for the bottom 40% (B40) and middle 40% (M40) income groups as well as small and medium enterprises (SMEs).
Non-financial corporate debt servicing capacity still above prudent level in 1H20
KUALA LUMPUR (Oct 14): Despite the expected weakening in financial health among non-financial corporates (NFCs) due to the Covid-19 pandemic, the aggregate indicator of the debt- servicing capacity of NFCs has remained above the prudent threshold, reflecting the reasonably healthy financial conditions prior to the pandemic, according to Bank Negara Malaysia's (BNM) Financial Stability Review for the first half of 2020 (1H20).
Household loan impairments to double in 2H21 — BNM
KUALA LUMPUR (Oct 14): Household loan impairments are projected to double, albeit from historically low levels, said Bank Negara Malaysia (BNM) in its latest Financial Stability Review.
