Malaysia's private non-financial sector's credit growth moderated to 4.8% in September

KUALA LUMPUR: Credit growth to the private non-financial sector moderated to 4.8 per cent at the end of September, down from 5.2 per cent in August 2024, primarily due to a slowdown in business loans and corporate bond issuance, according to Bank Negara Malaysia (BNM).

The central bank said in a statement today that business loan growth eased to 4.5 per cent from 5.1 per cent in August, mainly attributed to a slower rate of loan expansion among non-SMEs (small and medium enterprises).



"Notwithstanding the moderation in growth, overall loan disbursements was higher in September,” BNM said. The central bank added that loan growth to the services sector remained strong, while growth in the manufacturing and construction sectors moderated. For households, loan growth was steady at 6.

1 per cent (August 2024: 6.2 per cent), with broadly consistent growth in loans across various purposes. - Bernama.