KUALA LUMPUR, Jan 9 — Malaysia’s banking industry is likely to pick up in 2017 compared to 2016 in line with the projected recovery in the country’s economy.
AmBank Islamic Bhd Chief Executive Officer, Eqhwan Mokhzani, said the stronger economic growth would benefit the banking industry spurred by more economic activities in the country.
“It is difficult to take a position now but a lot of analysts now are talking about five to six per cent growth in the banking sector for this year.
“The outlook for debt capital market has also picked up along the way,” he told reporters after AmBank Group’s appointment as an agent to distribute Amanah Saham Nasional Bhd products here today.
However, Eqhwan said, the downside risks would include the US president-elect Donald Trump’s policies implementation which would take place on Jan 20, 2017 and the volatility in the exchange rate.
“That will definitely impact us. We are also primarily dependent on oil prices but of course the government is also playing a role in pump-priming mega infrastructure projects.
“That will also play an important role of the sukuk. If we can manage our domestic situation well, then the banking industry should be able to grow by 5.0 per cent in 2017,” he said. — Bernama
