Maybank expects lower loan growth as Malaysia economy slows
It reports net profit of RM1.58 billion in the quarter to June
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Kuala Lumpur
MALAYAN Banking Bhd (Maybank), South-east Asia's fourth-largest lender by assets, expects Malaysia's economy to slow, raising prospects of lower loan growth and spending, its group president and chief executive Abdul Farid Alias said.
He added that consumption will be weaker following the implementation of a new goods and services tax in April.
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