Malaysia

The government forecasts the contribution of SMEs to the gross domestic product to rise to 41% in 2020.

Maybank is offering a six-month moratorium for flood victims till June 30, 2012.

RHB Capital Bhd and OSK Holdings Bhd have submitted an application to merge.

OCBC Bank plans to open seven new branches through Malaysia in 2012 to cater to its growing customer base.

HSBC Amanah Malaysia Bhd will introduce an innovative sukuk this year for retail investors to maintain HSBC's position as a leading sukuk house.

The acquisitionof  Kim Eng Holdings and growth potential of Bank Internasional Indonesia will bring regional growth for Maybank. OSK Research said the bank's latest quarter net profit year-on-year growth of 25.1 per cent and quarter-on-quarter growth of 11.4 per cent, respectively, far outpaced the industry's aggregate of 15.6 per cent and 8.2 per cent, respectively. "Its earnings were propelled by an industry-beating loans growth of 17.6 per cent, y-o-y, the hefty 62.1 per cent drop in loans loss provision and maiden contribution from Kim Eng," OSK Research said in a note today. It said BII was also aggressively expanding via new hiring and enlarging its branch network by 43 per cent over the next one-and-a-half years. The research firm said BII's operating leverage would begin to flow through by financial year 2012 and financial year 2013 on a more stable cost base while generate new revenue from its enlarged presence. For the source of this story, click here.

Malaysia would open up its banking sector to more foreign investment to put the economy back on investors' radar ahead of general elections expected in 2012.

Maybank has opened a new branch at Stung Meanchey, in Phnom Penh, to expand its network in Cambodia to 11.

Agrobank Bhd is eyeing growth in downstream activities in the agriculture sector as part of its strategy in diversifying loan portfolio for next year.

Malaysian banking's performance is likely to be moderate next year in line with the economy.

Bank Mandiri allocated US$439 million for its customers' needs during Christmas and New Year.

The amount of money borrowed by self-employed entrepreneurs in South Korea accounted for 33.9 percent of all loans taken out by SMEs.

The country seeks to triple its financial sector by the end of this decade.

But it is yet to have the central bank and finance ministry's approval for the bid.

Kazakhstan has invited Malaysians to invest in the country's Islamic finance sector.

Requirements have been relaxed for Indonesia's state-run Bank Mandiri to operate in Malaysia by the end of next year.