PETALING JAYA: The overnight policy rate (OPR) which has been cut for the fourth straight time is an added negative for banks which are already competing for a pie that has gotten smaller in recent months.
The Covid-19 pandemic is mostly to be blamed for this, as it has put off many potential consumers from taking on loans - a main source of income for banks – and has also exacerbated the already competitive environment that banks operate in.
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