Malaysian banks to grow<\/p>\n
KUALA LUMPUR (AFP): Malaysian commercial banks are expected to
\nrepeat their strong 1993 showing this year but may face future
\nstiff competition from high-profiled foreign banks operating
\nlocally, analysts said.<\/p>\n
Based on the surge in infrastructure projects to sustain
\nMalaysia's booming growth, analysts expected overall growth of
\nthe Malaysian banking sector this year to exceed 30 percent.<\/p>\n
In 1993, Malaysian banks performed above expectations with
\ntotal unaudited pre-tax profit rising 47 percent to M$3.9 billion
\n(US$1.56 billion) on an 11.4 percent growth in total loans to
\nM$86.4 billion ($34.5 billion).<\/p>\n
Commerce Asset-Holding Bhd., the parent company of Bank of
\nCommerce Bhd, on Friday reported a 62 percent hike in its group
\npre-tax profit to M$114 million for the six months ended June 30.<\/p>\n
\"Bank of Commerce should perform strongly in 1994, given that
\n1993 loans and advances grew 26.5 percent in the second half,
\nsaid Merrill Lynch's Singapore-based vice president, Lai Kwok
\nKin.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/malaysian-banks-to-grow-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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