KUALA LUMPUR – With RM31.15 billion of profit recorded by the banking institutions in Malaysia last year, the banks can still afford to extend the loan moratorium automatically in bulk for another 6 months without interest.
Datuk Seri Najib Razak said that the profit recorded shows that the banks will still record profit even if Malaysia is still in the Covid-19 turmoil.
Therefore, he reminded the banking institutions in the country not to take advantage by profiting while the people are suffering. They should restructure their loans and increase repayment period of up to three or four more years.
“We are not asking the banks to write off the debts for B40 or ask BNM to print money like what a deputy minister of PN (Perikatan Nasional) did.
“Many people suffered during MCO 1.0 last year.
“More people suffered during MCO 2.0 as their savings and reserves are used up during MCO and CMCO since October last year,” he said in a Facebook post.
The banking sector recorded the profit of RM8.55 billion during the first quarter, RM8.05 billion (second quarter), RM8.20 billion (third quarter) and RM6.35 billion (fourth quarter). -MalaysiaGazette