AmBank sees higher loan growth next year
Published on: Tuesday, April 26, 2016
RAWANG: AmBank Group expects its loan growth to be stronger next year and potentially surpass the six to seven per cent estimated for this year.Group Chief Executive Officer Datuk Sulaiman Mohd Tahir said the bank has streamlined its products and services and started focusing on areas of growth that it wants to expand into."We expect higher loan growth next year bolstered by selected housing projects and the small and medium enterprises (SMEs) loan portfolio," he said at a press conference after the signing of a banking facilities agreement with property developer SP Setia Bhd Group here Monday.
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AmBank granted RM315 million banking facilities and a RM200 million working capital term loan to SP Setia for the latter's new township, Setia Eco Templer project, slated for launch next month.Sulaiman said the SMEs businesses are expected to grow further, while Bank Negara Malaysia's stringent housing loan policy has benefited people looking to own a house. "If the government hadn't done that, house prices would have skyrocketed and genuine buyers wouldn't be able to afford."With the property sector starting to show signs of stability, it has now given an opportunity for genuine buyers to borrow," he said.
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Sulaiman said AmBank is also focusing on expanding its chip-card and merchants services for cashless transactions, as well as on wealth management space to enable customers to maximise yields, citing investment in bonds as an example.Stay up-to-date by following Daily Express’s Telegram channel.
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"As of now, there is no change," he said. – Bernama
