Thursday, April 24, 2014

BERNAMA: Maybank Islamic expects better loan performance next year

BERNAMA (24 April 2014): Maybank Islamic Bhd, the Islamic banking arm of Malayan Banking Bank Bhd (Maybank), expects a better loans performance this year based on an improved global economic environment.

Maybank Islamic Chief Executive Officer Muzaffar Hisham said the bank was confident of achieving nine to 12 per cent loans growth this year with 94% contributions coming from domestic customers while the balance, from Singapore and Indonesia.

“Malaysia is still the major contributor because at the moment we have captured one third of the market share.

“But we are hoping for overseas’ contribution to increase soon, as Singapore an Indonesia are performing well,” he told reporter after the launch of Maybank’s Go Ahead. Challenge here today.
The Go Ahead. Challenge was launched by Maybank’s group chief human capital officer Nora Abdul Manaf.

Muzaffar (photo, insert) said the bank was also expecting the cross border transactions to increase this year due to a more stable foreign exchange rates.

“The cross border transactions slowed down last year due to the incondusive foreign exchange rate between ringgit and the US dollar following the move by Federal Reserves to cut down the size of its stimulus programme.

“This year, we hope the foreign exchange to be a little bit stable,” he said.

Last year, Maybank Islamic contributed about 38 per cent of the Maybank’s total revenue. -- Bernama, 24 April 2014