Market Research Report
Consumer Lending in Malaysia
|Consumer Lending in Malaysia|
Published: November 12, 2020
Content info: 17 Pages
Delivery time: 1-2 business days
The emergence of COVID-19 in Malaysia and subsequent lockdown measures in the shape of the Movement Control Order (MCO) which resulted in rising unemployment and decreasing disposable incomes placed a great deal of pressure on consumers, not only in terms of being able to pay for essential goods and services but in their ability to continue to make monthly repayments on outstanding loans. This scenario prompted the Central Bank of Malaysia (Bank Negara Malaysia) to initially grant six months mor...
Euromonitor International's Consumer Lending in Malaysia report establishes the size and structure of the market for ATMs cards, smart cards, credit cards, debit cards, charge cards, pre-paid cards and store cards. It looks at key players in the market (issuers and operators), number of cards in circulation, numbers transactions and value of transactions. It offers strategic analysis of sector forecasts and trends to watch.
Product coverage: Consumer Credit, Mortgages/Housing.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
List OF CONTENTS AND TABLES
COVID-19 impact on consumer lending
COVID-19 country impact
Plans to aid economic recovery includes incentives to take up loans
Pandemic strengthens trend for online loan applications in addition to repayment assistance plans
Gross lending for mortgages/housing takes significant hit following emergence of pandemic despite attractive deals from property developers
What next for consumer lending?
GLOBAL MACROECONOMIC ENVIRONMENT
GLOBAL INDUSTRY ENVIRONMENT
KEY DATA FINDINGS
Consumers' financial insecurity as a result of the pandemic results in deferred payment programmes by banks, driving up outstanding balance in 2020
Banks look to extend offers of assistance to customers likely to struggle beyond 2020
Government launches fourth financial stimulus package in June and tax relief on cars in an effort to support auto lending
RECOVERY AND OPPORTUNITIES
Significant uptick in growth by gross lending in 2021 but overall value unlikely to reach pre-pandemic levels until 2024
Strong performance predicted for other personal lending as consumers rely on personal loans due to decreased incomes while consolidating card debt
Stronger performance for education lending as deferred payment plan set to end