RHB expects 10-12pc loan growth in 2012

Despite the Eurozone economic uncertainties, RHB bank Bhd still foresees growth in its loan sector.

Its acting director, Vince Au Yoong, said he was confident that the loans sector will continue to grow but will see a slightly lower margin compared with last year.

"Last year, we achieved 14.5 per cent loan growth and this year we expect it to reach 10 to 12 per cent," he told reporters after launching the bank's new credit card, RHB Visa Infinite, here today.

He said housing and car loans will be among the major drivers while ASB financing will continue to contribute as well.

"We believe Malaysia's economy will remain strong and there will be a fair (number of) applications seeking financing," he said.

On the new credit card, which is aimed at the high profile group, Au said the bank had set a target of 30,000 card holders in the next 12 months with emphasis to be on travel and leisure spending.

The card is aimed at the 30 to 50-years old group, with a minimum annual income of RM240,000 as it promises a variety of exciting rewards.

"Our current market share in terms of the number of cards has reached 6.2 per cent while credit card usage growth is reported to be 16 per cent compared to the industry growth of nine per cent," he said.

He said the bank has about 1.7 million card holders in the country and he hoped that the launch of the new card will bring the figure up.

"We are constantly listening to our customers in order to enhance our products and services to best meet their needs." -- Bernama