Malaysia’s banking sector went through many years of painful restructuring after the Asian financial crisis and consequently sailed through the global version a decade later largely unscathed. The banks are well capitalized, diversified and largely well run; the main potential headwind is a flagging domestic economy.
It is interesting that Malaysian banks have held up in the face of the sell-off of emerging market stocks, and as of August were trading at a modest premium to the average for Asean banks.
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