BANKS
[%BIMi%] [%qdPF%] 
Research by CGS
Overweight

“A marginal pull-back in loan growth”

According to Bank Negara Malaysia’s monthly release of data on the Malaysian banking industry, the industry’s loan growth moderated marginally from 6% yoy at end-Apr 24 to 5.8% yoy at end-May 24. The slowdown came mainly from the business loan segment, with the yoy expansion narrowing from 5.6% yoy at end-Apr 24 to 4.8% yoy at end-May 24. This was in line with our projection of 4-5% yoy increase in business loans in 2024F. Meanwhile, the growth momentum for household loans inched up from 6.2% yoy at endApr 24 to 6.3% yoy at end-May 24, with a slight pick-up in pace for both residential mortgages and auto loans.

Analyst(s):
Winson NG, CFA
[%TULr%]

BANKS
$KLSE-CIMB $KLSE-HLBANK 
Research by CGS
Overweight

“A marginal pull-back in loan growth”

According to Bank Negara Malaysia’s monthly release of data on the Malaysian banking industry, the industry’s loan growth moderated marginally from 6% yoy at end-Apr 24 to 5.8% yoy at end-May 24. The slowdown came mainly from the business loan segment, with the yoy expansion narrowing from 5.6% yoy at end-Apr 24 to 4.8% yoy at end-May 24. This was in line with our projection of 4-5% yoy increase in business loans in 2024F. Meanwhile, the growth momentum for household loans inched up from 6.2% yoy at endApr 24 to 6.3% yoy at end-May 24, with a slight pick-up in pace for both residential mortgages and auto loans.

Analyst(s):
Winson NG, CFA
winson.ng@cgsi.com

$CIMB / 1023 (CIMB GROUP HOLDINGS BERHAD)