MAYBANK ISLAMIC EXPECTS STRONG GROWTH IN DEPOSITS, FINANCING

KUALA LUMPUR, July 2 (Bernama) -- Maybank Islamic Bhd expects strong growth
of between 20 and 30 per cent for both deposits and financing for financial year
ending June 30, 2011 in line with an improved economic environment.

Its chief executive officer, Ibrahim Hassan, said for the last financial
year, its deposits grew by 32 per cent to RM7.9 billion. (US$1=RM3.22)

For the first six months of financial year ended 2010, the bank posted a
growth of 18 per cent for financing and 15 per cent for deposits compared with
the previous corresponding period, he said.

"The bank expects to see a double-digit growth for deposits and financing
for this year," he told a media briefing after the signing of a memorandum of
understanding with Yayasan Waqaf Malaysia (YWM) to launch the waqf service here
Friday.

Waqf is a structured community-giving initiative that allows customers to
place deposits as waqf contribution.

Also present were Maybank Islamic chairman, Ismail Shahudin and
YWM's vice chairman, Datuk Dr Sohaimi Mohd Salleh and chief executive officer,
Azri Ahmad.

Ibrahim said the bank expected to record between RM2 million and RM3 million
in contributions from its waqf service for the first year.

Currently, the bank has three million customers, he said.

He said Maybank Islamic was the first financial institution in the country
to offer such an integrated waqf solution to customers.

"With waqf, our institutional and retail customers would have the
opportunity to participate in a structured community-giving programme as part of
their wealth distribution strategy.

"This service is part of the bank's ongoing strategy to develop innovative
products and services that will not only benefit its customers but also
reinforce Malaysia's leadership in Islamic banking services," he said.

Currently, Maybank Islamic has 12 full-fledged Islamic branches as well as
through over 380 Maybank branches nationwide.

It plans to open another two branches to be located in I-City Shah
Alam and Melaka this year.

Maybank Islamic is the country's leading Islamic commercial bank with assets
exceeding RM40 billion.

It is also the largest Islamic banking institution in Asia Pacific and among
the top 15 Islamic banks in the world.

Over the years, the bank has steadily built up its Islamic banking business
assets through strategic market positioning and the provision of innovative
Islamic deposit and financing products.

-- BERNAMA



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