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Bank's lending growth seen slowing

Maybank Securities expects Security Bank's lending growth to ease to nine percent this year.

'Despite loans growing by 12 percent year-on-year in 2022, we expect slower lending growth at 9 percent for the full year of 2023 as a result of subdued credit demand arising from higher interest rates, before accelerating by 11 percent year-on-year in 2024,' Maybank Securities analyst Rachelleen Rodriguez said in a report.