Local banks in Malaysia are racist. Is it true or false?

Few months ago, I still remembered I met a property consultant and were talking about house projects to buy.

While talking about income, DSR, and others related things, he said to me that within each bank there's a thing called, "Profiling".

What he meant by Profiling is that each applicant is been categorized with score to pass the house loan.

Example of Profiling:
Age: Teenager? Adult? Senior citizen?
Working: MNC? Normal Sdn Bhd? Enterprise?
Salary: Above 3k? Above 5k? Above 8k?
And bla bla bla etc etc...

The most important: Race/Bangsa: Melayu? Tamil? Cina? Lain-lain? Etc.

I meant very strictly here I don't mean any racist post and I do not want to see anyone simply commenting racially.

So,
1) The property agent told that if bangsa Cina then it's very much likely to approve the loan because the data in BNM shows people from Cina race are good paymaster and don't delay their commitment.

2) And, bank will consider more points when it comes to Tamil race. Abit tighter application than Bangsa Cina.

3) Melayu race is one of the most strict to go through screening and taking many things into consideration because the data shows people from Melayu race are default in loan payment or don't service the loan in time.

4) So, when it's comes to lain-lain race then the bank will only look into after looking into the main 3 races. As I'm Punjabi, so I will fall myself into Lain-Lain/other race which is in bracket (Punjabi).

Please guts, no racist or racial attack comment. MOD please pay attention on this thread.

My question how true is it the local bank practice such Profiling??? Or anyone go through such experience with bank?


Attached thumbnail(s)

Sindri sangkut bayar, sindri nk slhkn bank racist. Apeda.

Eh... Revolvers trait and commitment will only get higher with more kids. So...

It call profiling based on race.....

if u good paymaster, good credit rating, nothing to worry.

Don't look everything within race and religion scope only

it's called credit risk profiling based on experience lending ppl money in Malaysia.. nothing to do with race profiling.

Quite true actually.

Some time back, Standard Chartered credit card promoters prefered Chinese than other races for card application. Reason also same.

Upon hearing this, I left.

u heard the thing call big data ? whatever the data tell them, they follow. nothing to do with racist.

Every bank in the world is the same, they rely on big data to guide them. All risk department rely on big data, from there they work out the profiling category.

assuming if you go russia or singapore or china and then work in bank, samething will happen, if in china, they will profile according to your kampung, what type of chinese u are, gender, school. etc..

bank are for business, they loan for profit, not NGO.

seriously, no matter what race you are, if your CCRIS and CTOS scores are great and have a constant flow of income, the loan officer will even ask you to take a higher loan from them with an even lower interest rate. They more worried about you paying off the loan earlier.

Banks do practice scoring of customers before deciding on loan amount to approve. race is just one of the many factors. Your own individual historical payment, current loan amount, outstanding, credit cards etc is also taken into account.

actually, the scoring of race alone is just a tiny fraction of all other things. they have SO many factors to consider. and at the end of the day, these scoring factors are calibrated from time to time based on data of customer default etc.

can also say banks prefer applicants who work in stable industries or certain jobs (fixed income rather than commission based) as well but it's not about being discriminatory.

So it's not racism

I think last time i have a friend working in bank also say like that. xD Long time ago... xD

Kebanyakkan chinese keje positiion tinggi. kebanyakkan malay position tinggi sampai la ke grabfood majoriti malay.

aku kenal seorang.dia support biz aku since dari murah ke mahal bende.laki bini dia support aku. payment x pernah failed. siap suggest kawan dia guna services aku. nk kata tak tau harga. dia chatterd account ada company sendiri. ada 5 company under onw roof. bini dia pulak ada 3-4 company. she chinese btw.

anak dia member lyn. tapi bukan jenis lepak kat /k/ i know this because i saw he open lyn page got his id

actually kalau sector retail . malay mmg win. tapi sector services chinese mmg win. repair paip ke repair rumah ke as long as services go for chinese. i mean dari segi affordable harga. not dari segi qty. tapi ni dulu la tahun 2000 - 2010 . semenjak ada online bussiness ni Chinese pun banyak cut cost.

I'm bumi and wonder if this is the reason why my housing loan application was very hard to get approved, despite of my good DSR and clean CCRIS record. Applied to 3 banks, only 1 approved (although only 80%), only able to get 90% if joint name with my wife. SMH

cimb
cina india melayu bangla

If data driven, can you blame the data? Its not your fault but business dont care about anything else but money so if you are thinking of racism as a business policy, far from it.

Money is the determinant here

They're a business.
If you are the bank, what would you do?

Loan 2mil to someone that has a high chance of returning back to money or loan to someone that has a lower chance to return the money?

It's just statistics.

If you want to say it's racist, then it is also sexist, ageist and elitist.

Doubt it is true.

I fall under the "lain lain" category.

The only local banks I deal with are CIMB and MBB. Never had any issues when it came to getting loans.

Malay govt staff doesn't seem to have this problem..Bank are lining up to entice them.to get personal loan..

Gov stuff different story cos very stable, non gov one tomrrow u can lose yr job no 100% u can afford to pay. Gov one they terus tolak from gaji that why gov stuff can get a lower interrst rate compare to non gov job.