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Malaysian banks cautious over new loans

Malaysian banks cautious over new loans

Malaysian banks are remaining cautious over issuing new loans, with new figures showing the approval rates fell to 40.6% in the first quarter of 2021, compared with 44.1% in Q1 2020.

A study by MIDF Research found that this was due to a higher demand for loans, with banks unable to keep pace with this demand. New cars and residential property were the main reason for the loans being sought, according to the research.