www.thesundaily.my - KOTA KINABALU (April 21, 2012): Maybank Islamic Bhd
is targeting to grow its assets in the region of 15-18% this year, says
chief executive officer Muzaffar Hisham.
He said the bank now enjoys growth in both the corporate and customer
segments, although they are still cautiously optimistic about growth
this year.
"This is the advantage of our business as the growth is coming from
both sides. We have a target for our bottom line which has been
reported, and we hope to touch a pre-tax profit of RM1 billion.
"However, we have three more quarters to go and I'm extremely
cautious on the economy but we still want to grow, although we want to
grow cautiously and responsibly," he told the media in conjunction with
Permodalan Nasional Bhd's unit trust week here today. (source)
Muzaffar said they currently have more than four million customers,
comprising Muslims as well as non-Muslims.
"Our demographic is a good mix, for Muslims the advantage is we offer
our services based on Syariah compliance, while for non-Muslims we can
give them better returns. So it's a choice," he added.
However, he said, they are also looking to grow in volume and
profitability as well.
He said Maybank Islamic now contributes 28% of the domestic financing
to the group, and expects the growth rate to sustain this year.
On regional operations, Muzaffar said they are doing well in
Indonesia and Singapore which are seeing tremendous growth in the
Islamic banking industry.
"At the moment our key markets are Singapore and Indonesia, but we
are continuously looking for opportunities in any new market.
"Most probably we want to penetrate Brunei, but we are still looking
at the opportunity.
"We want to be pragmatic, we want our investments to provide good
returns to us," he added. -- Bernama
Source: http://www.thesundaily.my/news/356047 - April 21, 2012
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