AmBank branch in Seri Petaling, Selangor. AMMB Holdings Bhd (AmBank Group) was slapped with a RM53.7mil fine by Bank Negara in November.
RAWANG: AmBank Group expects its loan growth to be stronger next year and potentially surpass the 6% to 7% estimated for this year.
Group chief executive officer Datuk Sulaiman Mohd Tahir said the bank had streamlined its products and services and started focusing on areas of growth that it wanted 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 in Rawang on Monday.
AmBank granted RM315mil banking facilities and a RM200mil 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’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.
Sulaiman said AmBank was 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.
On whether the ANZ Banking Group was disposing of its 24% stake in AmBank, Sulaiman said the Australian bank, in its efforts to exit stakes in Asia, had not announced its plans on Malaysia yet.
“As of now, there is no change,” he said. - Bernama
* See also SP Setia to launch Setia Eco Templer township with RM2bil GDV
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