Its group CEO Datuk Sulaiman Mohd Tahir (picture) said external developments, particularly news of the UK’s exit from Europe (Brexit) and ongoing US-China trade tensions, have brought “a holdback in terms of investment”.
“We see a tapering down in small businesses. Of course, it is better than industry growth, but sentiment remains cautious in terms of the outlook, as we don’t see massive new investments coming in,” he told reporters after the group’s AGM in Kuala Lumpur yesterday.
Analysts have largely guided for banks to face a muted second half of 2019 (2H19), given the softer macro climate, slowing loans growth and the cut in the Overnight Policy Rate in May.
AmBank CFO Jamie Ling acknowledged the challenges posed by trade developments that continue to weigh on Malaysia’s export-driven economy.
https://themalaysianreserve.com/2019/08/01/ambank-keeps-cautious-stance/