S&P expects further consolidation among Islamic banks in Malaysia

S&P Global Ratings expects further consolidation among Islamic banks in Malaysia, amid the increasing trend of consolidation in terms of businesses and resources into the hands of bigger players.

In a report today, the rating agency said Islamic bank subsidiaries under the eight local banking groups accounted for more than 76% of domestic Islamic financing market share as of end-2020, up from 67% in 2010.

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