Maybank benefits from re-focus to domestic growth: report

Maybank is benefiting from a re-focus to domestic growth for both corporate and consumer amid a volatile global market, Citi Investment Research said.

Citi said the bank's strong deposit franchise was an advantage if funding remained tight, plus good fee income from transactional banking and insurance.

"Limited small and medium enterprise growth reduces non-performing loan risks, while government-linked companies link will help corporate lending and investment banking opportunities," it said.

However, for CIMB, Citi said, the bank's regional growth story was at risk.

"Its Indonesian unit, CIMB Niaga, faces stiff competition and net income margin pressure, while domestically they are behind in loan/deposit growth targets," it said.

The full story is available at Bernama.

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