Bank Islam aims to maintain financing asset growth
Page 1 of 1
Bank Islam aims to maintain financing asset growth
Bank Islam aims to maintain financing asset growth
Posted on 7 February 2014 - 05:41am
Ee Ann Nee
[You must be registered and logged in to see this link.]
Posted on 7 February 2014 - 05:41am
Ee Ann Nee
[You must be registered and logged in to see this link.]
PETALING JAYA (Feb 7, 2014): Bank Islam Malaysia Bhd wants to maintain its 20% growth in financing assets in 2014, driven by its retail business, mainly personal financing and mortgages.
Its director of business development Khairul Kamarudin (pix) said the bank has consistently registered 20% growth in the last three to four years.
The 20% target is almost double the banking industry's average growth expected this year but Khairul explained that Bank Islam is not as big as the other banks.
"In terms of percentage, they (the bigger banks) would be registering lower numbers but in terms of volume, they may have more. It's a ratio game," he told reporters at the Al-Awfar Dream of A Lifetime Campaign prize presentation ceremony here yesterday.
He also said while the increase in costs is a major concern now, over the last few years wealth has also increased for the top tier customers.
"Banks can sustain if they continue to manufacture products for the middle to higher income," he said.
On whether the bank is expecting a softening in home loans due to Bank Negara Malaysia's macro prudential measures, Khairul said: "Bank Islam is strict in its underwriting so the impact is marginal. We've always favoured owner-occupied (borrowers) rather than speculators."
He said Bank Islam is also looking at increasing its fee-based income, as this will be boosted by the encouraging debit card products and its transaction fees.
Analysts are expecting the stronger business loan growth to offset the slower momentum for retail loans this year, to which Khairul said Bank Islam is interested in the oil and gas sector under its business financing.
Khairul said the bank is also keen to increase its market share in the oil and gas sector.
"It depends on which sector you are exposed to and the bank's risk appetites. You may want to avoid certain sectors but in growth sectors like oil and gas, there is room to play and we're interested in that segment. We're doing what we can to increase our market share there," he said.
Meanwhile, Bank Islam aims to open at least five more branches to add to the existing 133 outlets it has in the country today.
"We've some (new outlets) in the pipeline. We've identified Sri Damansara (Kuala Lumpur), Kota Baru (Kelantan) and a few more in Klang Valley."
Cals- Administrator
- Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis
Similar topics
» Update KPJ aims to maintain 10% revenue growth in 2014
» Bank Islam eyes growth in Bangladesh
» TM aims to maintain performance this year
» Bank Islam awaits nod for 3rd IPO
» Less robust year for Bank Islam
» Bank Islam eyes growth in Bangladesh
» TM aims to maintain performance this year
» Bank Islam awaits nod for 3rd IPO
» Less robust year for Bank Islam
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum