Malaysia's private sector net financing up $2.37B

Loan demand remained robust with higher loan applications, particularly from the household sector.

More loans were extended to the manufacturing, wholesale and retail, restaurants and hotels, transport, storage and communication and finance sectors in January.

This pushed net financing to the private sector up by US$2.37 billion. On the other hand, private debt securities and equity issuances moderated during the month.

This was revealed by Bank Negara Malaysia its Monetary and Financial Developments January report, as quoted by the Bernama News Agency.

The central bank said household loans outstanding continued its steady rise, driven mainly by loans for the purchase of residential properties, passenger cars and securities.

"Loan demand remained robust with higher loan applications, particularly from the household sector," said BNM.