Malay banks resilient to US, Euro financial crisis: Maybank CEO

Maybank President and CEO Datuk Seri Abdul Wahid Omar says that the Malaysian banking sector will not be affected by the on-going financial and debt crisis in the United States and Europe.

He said the sector was very resilient, adding that the crisis might affect other sectors a little, but not the banking segment.

Abdul Wahid said there had been no indication of any disruptions in Maybank's domestic and international operations.

"Most of the exposure of Malaysian banks are domestic and in the Asean region, thus making the exposure towards the Europe and US very minimum," he stated.

He said 90 per cent of Maybank's exposure was through its activities in Malaysia, Singapore and Indonesia.

On Maybank's operations in New York, Abdul Wahid said the branch had so far responded with a positive level of liquidity.

"Given that we manage our assets and liabilities very carefully, Maybank and all local banks, at large, will have very minimum exposure to the US Treasury," he added.

The full story is available at Bernama.

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