KUALA LUMPUR: Malaysia's six largest banking groups by assets are well positioned to face competition from innovative digital banks following the announcement of five new digital entrants announced by Bank Negara Malaysia (BNM) recently.
KUCHING: Sarawak Premier Tan Sri Abang Johari Tun Openg said he accepts Bank Negara Malaysia's decision not to approve the state's application for a digital bank licence.
RHB Bank Bhd, Axiata Group Bhd, YTL Corp Bhd and AEON Credit Service (M) Bhd climbed after winning the digital bank licences. YTL Corp climbed the most in percentage amid active trade. At the time of writing on Friday (April 29), it had gained five sen or 8.4% to 64.5 sen after rising to an intraday high of 65.5 sen. The counter, which was the fifth most actively traded stock, saw 51.65 million shares traded.