Maybank’s Farid says there’s no ‘ideal’ number of banks

KUALA LUMPUR: Amid talk of consolidation in the local banking space, Malayan Banking Bhd said there was no ideal number for banks as there were different business segments that had to be catered to.

“There is the mass market while there is the niche market segment as well, where companies use different strategies. We have to note that every consumer has different requirements,” Maybank group president and chief executive officer Datuk Abdul Farid Alias said.