There is a sense of urgency among banks to become more cost-efficient amid the current challenging landscape, with the focus on reducing their workforce to an optimal level.
RAM Ratings co-head of financial institution ratings Wong Yin Ching said the measures implemented to reduce their respective workforce were being undertaken with greater urgency now, given the softer earnings outlook amid a challenging economic environment with slower loans growth and continued margin compression.
A head of research at a local bank-backed brokerage concurred, saying that a softer economic outlook was most likely the main reason for cutting down on staff.
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RAM Ratings co-head of financial institution ratings Wong Yin Ching said the measures implemented to reduce their respective workforce were being undertaken with greater urgency now, given the softer earnings outlook amid a challenging economic environment with slower loans growth and continued margin compression.
A head of research at a local bank-backed brokerage concurred, saying that a softer economic outlook was most likely the main reason for cutting down on staff.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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