Malaysia

Bank Rakyat launched a credit card balance transfer campaign which allows over 200,000 holders of its credit cards to enjoy an annual profit rate of nine percent and a three percent cash rebate.

The lender and its local rivals are currently searching for good SMEs with export potentials.

Maybank Bhd will open at least six branches in Sabah as part of the commitment of the nation's biggest commercial bank to stimulate the economy, says executive vice-president Mohd Hanif Suadi.

Uppal previously worked in StanChart as the CFO in its Taiwan, the Philippines and the UAE offices.

Malayan Banking Bhd (Maybank) has applied for a banking license in Laos, said President & Chief Executive Officer Datuk Seri Abdul Wahid Omar.

Bank Simpanan Nasional is eyeing 300,000 users to its Internet banking by end of 2011, with about RM6 million transactions to be done online.  

Bank Persatuan Malaysia Bhd will open its 14th branch in Melaka soon in an effort to expand its operations nationwide, reports Bernama.

An analyst said earnings contribution and the growth strategy of banks would be affected because of the proposed measure.

The lender believes global economic uncertainties would have lesser impact on Malaysia’s economy as it was largely driven by local demand.

DBS expects this given that the central bank has initiated its interest rate normalisation process earlier than many central banks in the region.

RHB Banking Group has withdrawn its application to Bank Negara for Renzo Viegas’ appointment as the managing director of RHB Bank Bhd.

RHB Capital has put on hold its application to acquire Indonesia's PT Bank Mestika Dharma amid Bank Indonesia's plans to limit single-party ownership in commercial banks to not more than 50%.

Malaysia is giving out financial services licenses to foreign companies to boost banking industry competition.

The lender’s strong deposit franchise seen as an advantage if funding remained tight.

Hong Leong Bank will see its net interest margin trend up in financial year 2012 with the full consolidation of EON Bank's higher yielding loans, says HwangDBS Vickers Research.

CIMB Islamic Bankexpects a moderate total loan growth of between 15 per cent and 19 per cent for financial year 2011.