Published:
Malaysian banks' total system deposits grew US$1.6b in February
CASA continued to expand at a faster rate of 5.8%.
Total system deposits rose MYR7.3b (US$1.6b) MoM in Feb 2017 or +0.4% MoM, reports Maybank Kim Eng.
On a YoY basis, growth is still moderate at just 2.5% YoY versus 3.1% YoY in Jan 2017. Positively though, CASA continued to expand at a faster rate of 5.8% YoY in Feb 2017 (5.8% YoY in Jan 2017 as well).
"By deposit holder, business deposits contracted YoY for the ninth consecutive month and by -0.6% YoY, while retail deposit growth moderated to 5.5% YoY from +6.0% YoY in Jan 2017," Maybank Kim Eng adds.
Meanwhile, having expanded at a rapid double-digit pace since Mar 2014, foreign currency deposit growth has since tapered off, expanding just 1.6% YoY in Feb 2017 versus +7% YoY in Jan 2017.
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