Malayan Banking Bhd (Maybank) is looking to expand its operations in China, said Group Chief Executive Officer Datuk Abdul Farid Alias.
The group is currently discussing with China Banking Regulatory Commission to open more branches there.
Maybank Greater China, consisting of three branches in Hong Kong, Shanghai and Beijing, provides mainly wholesale banking services to the commercial and corporate segments, with a focus on cross-border services within the Asean-China context.
For 2014, the bank's priority in China is also to enhance product strength and Renminbi capabilities.
"Other than the fact that we're expanding, we're quite comfortable with the scale, speed and risk profile that we see in the market," Abdul Farid told reporters after the group's annual general meeting here today.
On its operations in Pakistan, Abdul Farid said the group is engaging head of businesses, from trade to treasuries, to see how this could help them improve their performance.
He said the bank's associate, MCB Bank Ltd, is the most profitable bank in Pakistan.
"From profitability perspective, the bank registered ROE (Return On Equity) of about 21 per cent," he said, adding that despite the challenges, MCB Bank made about RM600 million profit last year.
"It's pretty decent in any market for that matter," he said.
The group is also looking at more regional mergers and acquisitions in order to bring in 40 per cent of the group's pre-tax profit from abroad by 2015.
"Based on business portfolio we have, for us to grow organically we can achieve up to 35 per cent by 2015. The rest is inorganic activities," said Abdul Farid.
Thailand, Singapore and the Philippines are among the countries identified for possible growth.
"We are monitoring. We have game plan. Once we see something that makes sense to us from price perspective and our ability to execute and integrate, we will proceed," he added.
Bernama
Mon Apr 07 2014
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