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Reverberating far and wide are the staggering effects of the COVID-19 crisis, which continue to rock the world economy on an unprecedented scale.
In line with the Movement Control Order (MCO) imposed in Malaysia from 18 March, most sectors spanning from tourism to finance registered negative growth as a direct result of the pandemic-led downturn in economic activity for the better part of 2020.
The Malaysian banking industry is no exception. Even as the country enters the recovery phase and life gradually adapts to the “new normal”, top financial institutions grapple with subdued loan growth, surging credit costs and contracting net interest margins (NIMs).
Analysts predict a 20% decline in aggregate net profit for Malaysian banks, in addition to an expected 3.3% contraction in Malaysia’s GDP.
Relief from the crushing impact of the pandemic came in the form of the government-granted automatic moratorium – mandating a six-month loan deferment (1 April – 30 September 2020) for individuals as well as small and medium enterprises (SMEs) on all applicable financing repayments, including mortgages and personal loans.
The decline in finance and banking consumer transactions is apparent in the online space too, corroborated by dwindling search volumes for Malaysian banks in the market over time.
Using the Domain Overview feature under the SEMrush SEO Toolkit, we compared a range of vital
overview metrics to benchmark the website presence of 5 top banks in Malaysia: Maybank, Public
Bank, Ambank, RHB and Bank Islam.
The graph shows that while Maybank remains the highest accessed website from February to August 2020 hitherto, organic traffic gradually decreased especially nearing the tail end of March and the middle of June. Traffic trends for the other players have also dipped noticeably and have not recovered since.
The SEMrush Domain Overview tool is capable of providing a full-picture view of you and your competitors’ market positioning – backed by accurate data modules from organic and paid search traffic, ranked paid and organic keywords; to referrals, backlinks and display advertising for you to delve deeper into your competitive analysis.
In such climate, Malaysian banks will greatly benefit from leveraging SEMrush analytics to assess competitors’ strengths and weaknesses to identify SEO opportunities, either to safeguard your ranking or move up the Google SERPs in the months leading to a projected economic recovery in 2021.
SEMrush is the #1 award-winning online marketing toolkit for digital marketing professionals, offering over 40 advanced features to help businesses uncover top-level market insights and opportunities. The all-in-one suite of SEO, PPC, competitive research, social media management, and content marketing solutions is trusted by 6 million users worldwide across industries.
Get started on crafting evidence-based strategies for your business or client from only $99.95/month. Sign up for a 14-day free trial now (inclusive of consultation and support).