Chart of the Week: Malaysian banks CASA growth slower than total deposits in July

Total systems deposits growth picked up by 5.8% in July.

Deposit growth at Malaysian banks outpaced current and savings account (CASA) growth for the second consecutive month in July, according to Maybank Kim Eng. 

Also read: Car loans rev up Malaysian bank lending to 5.3% in July

Total systems deposit growth picked up at a faster pace from 5% in June to 5.8% in July whilst CASA growth slowed to 3.8% over the same period. 

Business and government deposits which rose 7.7% and 9.2% led deposit gains in July. Individual deposits expanded at a stable pace from 5.4% in June to 5.5% in July.

Financial institution (FI) deposits also expanded 1.4% in July, after a protracted slump that lasted seven consecutive months.