RAM Ratings: Domestic banks report better performances in 2Q 2024, led by household loans 

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KUALA LUMPUR, Sept 4 — Domestic banks reported better performances in the second quarter 2024 (2Q 2024), driven by a mil...

Wong said in 2Q 2024, the annualised credit cost ratio of the eight banks eased to 18 bps from 22 bps in 1Q 2024 and 23 bps in 2023.“GIL coverage (including regulatory reserves) which averaged 137 per cent, stayed notably higher than the pre-pandemic level of 107 per cent as at end-2019.“Given sizeable management overlays retained by banks, we anticipate credit cost to remain benign at circa 20 bps for the full year,” she added.

We project the GIL ratio to come in between 1.6 per cent and 1.7 per cent by year-end,” she said.

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Category: EconomyBusiness

Markets: Malaysia

Topics: Household loans RAM ratings Domestic banks

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

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Article Type: News Report

Published On: 2024-09-04 @ 15:10:23 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: malaymail.com

Language: English

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