Banks’ 2019 profits can cover loan moratorium extension, says Guan Eng
Lim Guan Eng says the banking industry losing RM6.4 billion was a small price to pay for welfare of 7.7 million people and 245,000 small and medium enterprises. – The Malaysian Insight file pic, July 28, 2020.
BANKS are able to extend the moratorium on loans as the industry had earned an estimated RM32 billion in after-tax profits for 2019, said DAP secretary-general Lim Guan Eng. “The RM32 billion in after-tax profits for 2019 should provide sufficient cover for banks to bear the RM6.4 billion cost of delivering on their corporate social responsibility of extending moratorium of bank loans by another six months to aid their customers during the Covid-19 economic crisis,” he said in a statement today.
Effective July 2018, access to full reports will only be available with a subscription. Sign-up now and enjoy one week free access!
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
JPJ collected RM8.55bil in revenue in 2019 and 2018, says Transport MinisterKUALA LUMPUR: The Road Transport Department (JPJ) collected a total of RM8.55bil in revenue in 2018 and 2019, said Transport Minister Datuk Seri Dr Wee Ka Siong.
Read more »
RTD collects RM8.5 billion in non-tax revenue for 2018, 2019 | The Malaysian InsightTransport minister gives breakdown of figures during question time.
Read more »
JPJ collects RM8.5 billion on non-tax revenue for 2018 and 2019KUALA LUMPUR: The Road Transport Department (JPJ) has collected a total of RM8.5 billion in non-tax revenue for 2018 and 2019, the Dewan Rakyat was to...
Read more »
100 days ahead of vote, faltering Trump banks on 'silent majority' | Malay MailWASHINGTON, July 27 — President Donald Trump mounted a strident defense Sunday of his wavering reelection bid with 100 days to go in a campaign that has seen him underwater in the polls — and banking on the “silent majority” he vowed will bring him victory. The 74-year-old Republican has...
Read more »
Finance Minister: Banks will suffer losses of RM6.4b in total over loan moratorium | Malay MailKUALA LUMPUR, July 27 — Malaysia’s banks suffered losses of RM1.06 billion monthly, owing to the six-months loan moratorium period, Finance Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz said today. Tengku Zafrul told Parliament that collectively, banks will suffer a loss of RM6.4 billion...
Read more »