Bank Negara says asset level strong at RM488 bln, declares dividend of RM4 bln for Govt

KUALA LUMPUR, March 31 — Bank Negara Malaysia, which released its audited financial statements for 2020 today, said its financial position remained strong with assets amounting to RM488 billion, and a net profit of RM10.2 billion for year ending Dec 31, 2020.

In a press statement on its website today, the central bank said of the RM10.2 billion, RM6.2 billion will be transferred into the General Reserve Fund, and it will also declare a dividend of RM4 billion to the Government for the year.

It has also projected the economy to recover in 2021, with growth ranging from 6.0 – 7.5%, with support from stronger external demand and higher private and public expenditure.

Bank Negara also outlined various strategies and measures it had taken to ensure strength and resilience in the economy in the wake of the COVID-19 pandemic that had affected economies around the world.

The rollout of the National COVID-19 Immunisation Programme will improve confidence and support the economic recovery. Malaysia’s integration in fast-growing segments of global value chains and diversified external trade structure, as well as continued policy support would be key factors in driving the rebound in economic growth in 2021.

While heightened downside risks to growth remain, the immediate policy focus of the Bank is to facilitate a strong and sustainable recovery and minimise permanent output losses. Monetary policy in 2021 will therefore remain accommodative to support an enhanced and sustained economic growth, it said.