Malaysia's Banking Sector Surges With 5.8% Loan Growth in May 2024
Malaysia's Banking Sector Surges With 5.8% Loan Growth in May 2024
Kenanga Investment Bank (Kenanga) reported today that Malaysia's banking sector experienced robust growth in May 2024, with system loans increasing by 5.8%, aligning closely with their CY24 projections amidst sustained demand for mortgages and hire purchase accounts. Business loans, particularly from the retail and service sectors, also saw an uptick, likely driven by improved consumer spending and the economic outlook.
肯納加投資銀行（肯納加）報告稱，2024年5月，馬來西亞銀行業經歷了強勁的增長，系統貸款增長了5.8%，與他們的CY24預測密切相符，這是由於按揭和分期付款帳戶的持續需求。特別是來自零售和服務領域的業務貸款也出現了上升趨勢，這很可能是由改善的消費支出和經濟前景推動的。
The sector anticipates the Overnight Policy Rate (OPR) to remain stable at 3% throughout CY24, reflecting a cautious stance with potential downward pressures. Kenanga maintains an OVERWEIGHT recommendation on banking stocks, bolstered by expectations of continued resilience supported by infrastructure projects and investment initiatives.
該行業預計夜盤可交易政策利率（OPR）將在CY24期間保持穩定，爲3％，反映出一種謹慎的態度，存在潛在的下行壓力。肯納加保持對股票市場銀行股的增配建議，因爲這些項目將受到基礎設施項目和投資倡議的不斷復甦的支持。
Household loans showed resilience, expanding by 6.5% in May 2024, primarily led by residential properties and transport vehicles. In contrast, business loans grew by 4.8%, driven by increased working capital needs, particularly evident in the service industries. Despite a flat month-on-month performance for business loans, sustained growth in household loans underscored ongoing demand for mortgage and home purchase financing.
家庭貸款表現強勁，在2024年5月，增長了6.5％，主要由住宅和交通工具引領。相比之下，經營貸款增長了4.8％，增加的工作資本需求，在服務行業特別明顯。儘管業務貸款在同時期內持平，家庭貸款的持續增長突顯了人們對房屋按揭和購房融資的持續需求。
Loan applications in May 2024 edged up by 3% year-on-year, rebounding from the previous month's festive season dip. Mortgage applications continued to drive growth, highlighting persistent demand for affordable housing solutions amidst favourable financing conditions.
2024年5月，貸款申請同比增長3％，反彈了前一個月的節日季節性下滑。按揭貸款仍然推動着增長，突顯出在有利的融資條件下，對經濟實惠住房解決方案的持續需求。
The Gross Impaired Loan (GIL) ratio remained stable at 1.63%, reflecting a healthy asset quality environment across the banking industry. However, industry loan loss coverage moderated to 90.8%, indicating a measured approach towards managing risks, particularly among SMEs facing inflationary pressures.
毛不良貸款（GIL）比率保持穩定在1.63％，這反映出整個銀行業資產質量良好。然而，行業貸款損失覆蓋率降至90.8％，表明在面對通貨膨脹壓力的新興企業中，銀行對風險管理的態度更爲謹慎。
Stable growth in deposits was observed, with system deposits increasing by 4.9% year-on-year and 0.45% month-on-month in May 2024. Current Account Savings Account (CASA) balances held steady at 28.5%, supporting liquidity management despite slightly lower interest rates on fixed deposits.
觀察到存款保持穩定增長，2024年5月，系統存款同比增長4.9％，環比增長0.45％。家庭現金帳戶儲蓄餘額保持在28.5％，支持流動資金管理，儘管固定存款利率略降。
Kenanga reiterates its OVERWEIGHT stance on the banking sector, citing ongoing loan growth, an improved GDP outlook, and enhanced margin retention capabilities amidst macroeconomic challenges. The sector remains attractive, with dividend yields ranging from 6% to 7%, offering stability amid market volatility.
肯納加重申對銀行業的增配立場，稱其持續的貸款增長，改善的GDP前景以及在宏觀經濟挑戰中增強的按金保留能力。該行業仍然具有吸引力，股息率在6％至7％之間，能夠在市場波動時提供穩定性。
Top picks for Kenanga in the banking sector for 3QCY24 include CIMB, expected to sustain its growth momentum with a robust return on equity (ROE) and attractive dividend yield. RHB is favoured for its leading dividend prospects, projected at 7%–8% among peers, while ABMB stands out as a small-cap favourite due to its strong fundamentals and competitive positioning.
肯納加銀行業3QCY24的首選股票包括：CIMB，預計將繼續保持強勁的roe和吸引力的股息收益率增長勢頭。由於其領先的股息前景，RHB備受青睞，預計同行業相比，股息預計爲7％-8％。而ABMB則因其強大的基本面和競爭地位而成爲中小型企業的首選。
For investors eyeing Malaysia's banking sector, Kenanga's outlook underscores a favourable investment climate supported by solid financial metrics and strategic growth prospects.
對於眼光投向馬來西亞銀行業的投資者，肯納加的展望強調了有利的投資環境，這受到了堅實的財務指標和戰略增長前景的支持。
譯文內容由第三人軟體翻譯。