HLIB expects contributions to HLB to be maintained at 15%-18%


  • Banking
  • Tuesday, 01 Dec 2015

KUALA LUMPUR: Hong Leong Islamic Bank Bhd (HLIB), which is wholly-owned by Hong Leong Bank Bhd, expects its contributions to the group’s total growth to be maintained at between 15% and 18% this year amid the challenging economic scenario.

Chief executive officer/managing director, Raja Teh Maimunah Raja Abdul Aziz, said the projection was based on the profit and loss perspectives.

“The (banking) industry is facing a difficult year, whereby compressing profit margins are clearly pressuring the bottom line,” she told Bernama after the launch of commercial video to attract more Malay and Generation Y (Gen Y) customers here today.

“We are looking at increasing our customers, particularly from Malay segment and Gen-Y,” she said

On loan growth, she said, the segment was doing well. However, she said, the bank would also continue to focus on its non-loan segment, which included transactions and cash management.

“Our customer base comprises 55% commercial small and medium enterprises and the rest individual accounts,” she said.

Raja Teh Maimunah said the current fluctuations in the foreign exchange had helped the bank’s performance.

The commercial video also features its service, PEx, an easy way to send cash from mobile device via Hong Leong Connect application. The service offers three options -- direct, auto-teller machine collection and Internet collection. — Bernama

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