ID :
88051
Fri, 11/06/2009 - 01:24
Auther :
Shortlink :
https://oananews.org//node/88051
The shortlink copeid
AL RAJHI BANK MALAYSIA TARGETS US$1.8 BILLION IN BALANCE SHEET ITEMS
KUALA LUMPUR, Nov 5 (Bernama) -- Al Rajhi Bank Malaysia has target RM6
billion (US$1.8 billion) in balance sheets items this year, as compared to RM2
billion (US$584.5 million) in 2007.
Its chief executive officer Ahmed Rehman said the bank was aggressive on
growth despite the challenges in the global economic environment.
"We will manage our growth carefully. Our key focus this year has been
in executing a well thought thorough Alternate Banking Channel Strategy that
covers ATMs, internet banking and mobile banking," he told reporters after
the launch of Al Rajhi Bank's participation in the Malaysian Electronic Payment
System or MEPS shared ATM network.
After three years of operation in Malaysia, Saudi Arabia's Al Rajhi has
become the first foreign bank to join the MEPS.
Ahmed said the global economic crisis, has had some indirect impact on Al
Rajhi's business, particulary in relation to markets that are directly
exposed to the impact of the global economic meltdown.
He however said it did not affect Al Rajhi's expansion in Malaysia.
As for next year, he said that the bank was looking at opening up another
four to five branches in Malaysia, subject to approval from the authorities.
Al Rajhi Bank Malaysia has at present 19 branches and 17 offsite
ATMs and is constantly looking at growing its customer reach.
According to Ahmed, the bank's participation in the MEPS, will provide its
customers with the convenience of making interbank cash withdrawals and balance
inquiries at approximately 9,000 ATMs nationwide.
Meanwhile, the group managing director of MEPS, Mohd Suhail Amar Suresh said
it was likely that two more foreign banks would join the MEPS next year.
"Kuwait Finace has already confirmed its participation while another foreign
bank is in discusssions," Suhail said.
Suhail said the MEPS registered more than 11 million ATMs transactions
monthly.
Incorporated in 1997, MEPS is wholly owned by local financial institutions
and is the only interbank payment network service provider in Malaysia.
--BERNAMA
billion (US$1.8 billion) in balance sheets items this year, as compared to RM2
billion (US$584.5 million) in 2007.
Its chief executive officer Ahmed Rehman said the bank was aggressive on
growth despite the challenges in the global economic environment.
"We will manage our growth carefully. Our key focus this year has been
in executing a well thought thorough Alternate Banking Channel Strategy that
covers ATMs, internet banking and mobile banking," he told reporters after
the launch of Al Rajhi Bank's participation in the Malaysian Electronic Payment
System or MEPS shared ATM network.
After three years of operation in Malaysia, Saudi Arabia's Al Rajhi has
become the first foreign bank to join the MEPS.
Ahmed said the global economic crisis, has had some indirect impact on Al
Rajhi's business, particulary in relation to markets that are directly
exposed to the impact of the global economic meltdown.
He however said it did not affect Al Rajhi's expansion in Malaysia.
As for next year, he said that the bank was looking at opening up another
four to five branches in Malaysia, subject to approval from the authorities.
Al Rajhi Bank Malaysia has at present 19 branches and 17 offsite
ATMs and is constantly looking at growing its customer reach.
According to Ahmed, the bank's participation in the MEPS, will provide its
customers with the convenience of making interbank cash withdrawals and balance
inquiries at approximately 9,000 ATMs nationwide.
Meanwhile, the group managing director of MEPS, Mohd Suhail Amar Suresh said
it was likely that two more foreign banks would join the MEPS next year.
"Kuwait Finace has already confirmed its participation while another foreign
bank is in discusssions," Suhail said.
Suhail said the MEPS registered more than 11 million ATMs transactions
monthly.
Incorporated in 1997, MEPS is wholly owned by local financial institutions
and is the only interbank payment network service provider in Malaysia.
--BERNAMA
