Malaysian banks' deposits up 4.2% in December

Guess which bank had the heftiest increase of 16%.

According to Maybank Kim Eng, aggregate customer deposits expanded at a slower pace of +4.2% YoY end-Dec 2016 versus 5.5% YoY end-Sep 2016. The slowdown was particularly dramatic for Public Bank to 2.9% YoY from 7.3% YoY in Sep 2016, principally with the shedding of more expensive money market deposits.

Here's more from Maybank Kim Eng:

AMMB continued to report a contraction of its deposit base. CIMB’s domestic deposit gathering was strong, with growth of 8.5% YoY, moderated by slower growth in Indonesia (+1.1%), Thailand (+7.9%) and Singapore (-4.9%).

All banks but AMMB gathered more retail deposits during the year, with growth of 9% YoY in individual deposits. The heftiest was a 16% YoY increase from HL Bank, 15% for RHB and 14% for CIMB. AMMB saw its retail deposits contract 7% YoY.

With the shedding of more expensive money market deposits, “sticky” retail deposits improved in contribution to total deposits, averaging 43.2% end-2016 versus 42.9% end-Sep 2016.

Also Read

Cambodia enables QR payments from foreign e-wallets through Alipay+

Hong Kong to rename ‘virtual banks’ to ‘digital banks’

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit