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5th August, 2008
KUALA LUMPUR: CIMB Group is optimistic of achieving 25 percent growth in deposits, or RM7 billion, this year despite the current challenging economic environment.
Head of retail banking, Peter England, said the bank would continue to launch campaigns to attract people to save and invest.
CIMB Group, Malaysia’s second largest financial services provider, comprises CIMB Bank and CIMB Islamic. It offers retail banking services to over 4.7 million customers through its 366 branches nationwide.
CIMB Bank is the commercial banking arm while CIMB Islamic is the groups global Islamic banking and finance franchise.
England said the bank was also bullish of its loan projections with a targeted growth of 20 percent this year, or RM5 billion.
“We plan to launch more products for specific segment. We see no slowing down in demand despite the current challenging economic environment even if some parts of the market may remain soft,” England said at the launch of the campaign here yesterday.
The campaign would enable customers with deposit, loan and wealth management products to win prizes worth more than RM1 million in total.
England was also optimistic of the market for car loans even with the currrent effective hire purchase rate of 6.5 percent.
“The rate is not high because people will still buy cars,” he said.
England said Bank Negara Malaysia’s decision to keep interest rates unchanged was good for the economy and people.
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