Malaysian banks' system deposits up 0.8% to US$3.2b in March

CASA expanded at a faster rate of 8.3%.

According to Maybank Kim Eng, total system deposits rose MYR13.7b (US$3.2b) MoM in Mar 2017 or +0.8% MoM. On a YoY basis, growth picked up to 3.4% YoY from 2.5% YoY in Feb 2017. CASA continued to expand at a faster rate of 8.3% YoY in Mar 2017 (+5.8% YoY in Feb 2017).

"By deposit holder, business deposits finally expanded YoY (+2.8% YoY), after having contracted over the past nine consecutive months. Retail deposits grew 5.7% YoY from 5.5% YoY in Feb 2017. Foreign currency deposit growth was a moderate 4% YoY in Mar 2017, picking up pace slightly from +1.6% YoY in Feb 2017," adds Maybank Kim Eng.