KUALA LUMPUR: RHB Bank Bhd intends to expand its presence within the Asean region to countries like Vietnam and Indonesia, said group managing director Michael Joseph Barrett.International operations were expected to contribute 10% of earnings by 2010, from 4% in fiscal year 2007, he said after the RHB Capital Bhd AGM yesterday.
“Indonesia is a vibrant market with many Malaysian companies operating there. Furthermore, its economy is driven by natural resources,” he said, adding that the bank was looking for acquisition opportunities.
The bank, which already has a presence in Thailand and Brunei, intends to widen its footprint in those countries.
Amid concerns of a global economy slowdown, Barrett believes there are opportunities to be tapped, as prices of assets are likely to come down.
Barrett said RHB Bank was expected to reduce its non-performing loans ratio to below 3% and improve return on equity and return on assets to 15% and 1% respectively by year-end.
It also intends to open eight to 10 new conventional banking offices and six to eight Islamic banking branches throughout Malaysia this year.
No comments:
Post a Comment