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Bank Negara Malaysia's (BNM) 25 basis points (bps) overnight policy rate (OPR) hike is likely to have a positive impact on bank earnings, said analysts.
The recently announced digital banking licence winners are not seen as major threats and can co-exist with their conventional counterparts, according to analysts. On April 29, Bank Negara Malaysia announced the five successful applicants for the digital banking licences, namely a consortium of Boost Holdings Sdn Bhd and RHB Bank Bhd; a consortium led by GXS Bank Pte Ltd and Kuok Brothers Sdn Bhd; a consortium led by Sea Ltd and YTL Digital Capital Sdn Bhd; a consortium of AEON Financial Services Co Ltd, AEON Credit Service (M) Bhd and MoneyLion Inc; and a consortium led by KAF Investment Bank Sdn Bhd.
It is “imperative that short-term relief measures do not incur significant long-term damage to the economy”, emphasized Bank Negara Malaysia (BNM). The Central Bank was responding to questions by The Edge regarding the interest payment waivers for the bottom 50% income bracket group (B50) that had made headlines last week