On concerns about Maybank’s exposure in certain sectors, including the oil and gas, Abdul Farid said the bank had done the necessary provisions for all assets under management. As such, the group is more upbeat about FY17, with a 6% to 7% loan growth forecast across all segments. Abdul Farid attributed the lower-than-expected contraction to better management of its deposits, and a push for more “disciplined” risk-based pricing for its credit. There is enough funding to support loan growth, assured Abdul Farid, which the group said will be increasingly supported by its Casa (current account-savings account) franchise. “Casa is one of the most cost-effective methods of funding, compared to price-sensitive fixed-deposit customers who move from one bank to another,” Abdul Farid said.

Source: The Edge Markets February 24, 2017 01:14 UTC