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Here’s RM50 billion housing loans for the next 3 years. Grab it.

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Nope, I do not wish to remind everyone again that the bank loves to lend money to home buyers. They are, seriously. Else, where are their profits coming from? They just want to ensure that money’s going to be repaid. There’s nothing wrong with these conservative measures. Earlier we read about CIMB announcing that they have RM12 billion for B40 segment in Malaysia. I thought the number was huge but Maybank has just announced something even bigger. This time, it’s from the largest banking group in Malaysia. Their numbers include the APPROVAL rates as well and it’s at 80 percent which is much higher than industry approval rate of 70%.

Article in themalaysianreserve.com here. Maybank’s president and CEO Datuk Abdul Farid Alias said they are planning to disburse around RM50 bil in housing loans over the next three years. According to him, the bank disbursed a total of RM12.2 billion in housing loans in 2018, while its approval rate for mortgages for eligible bachelors as at March 2019 stood at 80% against the entire industry approval rate of 70%. He said RM35 bil will also be disbursed over the next three years on the SME side. Bank Negara Malaysia’s proposed additional capital requirement has also been factored into the group’s capital expectations. This is a good thing because credit rating firm Moody’s Investors Service Inc said the proposed additional capital requirement would be credit positive as it would increase Malaysia’s largest banks’ ability to absorb potential shocks and enhance banking system stability amid challenging operating conditions. The firm also said the country’s six largest banks, which it viewed as likely to receive the D-SIB designation, would meet the higher capital requirement without needing to raise additional capital. Article in themalaysianreserve.com here.

More loans to be disbursed by the top 2 largest banks in Malaysia. I am very sure all the rest are taking the cue and will do their best too. More capital requirements from our BNM and yet according to Moody’s, the banks could meet the higher capital requirement without needing to raise additional capital. Let’s remember yeah, one major reason for a bursting property bubble would be the banks’ Non Performing Loans (NPLs). With both issuing ever higher loans, it meant that the quality will definitely be lower. As for most of us, perhaps this is the best time to apply for a loan because this is their Maybank and CIMB’s) target for 2019. Happy following.

written on 21 April 2019

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Article written and edited by Charles. News article summarised by Dina Batrisyia.

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