Malaysia

Badlisyah Abdul Ghani, CEO of CIMB Bank speaks to Bryan Camoens and Mirzan Mansoor about the bank’s strategies to circumvent the challenge of lack of information about Islamic finance.

Maybank appointed Mr. Sreesanthan Eliathamby, Dato’ Johan Ariffin, Mr Cheah Teik Seng and Mr Alister Maitland to its Board of Directors effective 26 August.

Alliance Financial Group recorded a quarter on quarter improvement of 21 percent with an operating profit of US$33.2 million for the second quarter. This is an increase of US$5.67 million or 21 percent from the last quarter ended 31 March 2009.

Ambank Group recorded a profit after tax and minority interests of $731.34 million for the first quarter of its financial year ending 31 March 2010, thanks to its Retail Banking business. This represents an increase of 27 percent over its previous corresponding quarter and annualised earnings per share of $.1074 and post-tax return on equity of 13.1 percent.

Hong Leong Bank partnered with the Industrial and Commercial Bank of China in Singapore to offer trade settlement services in Yuan. This is part of China’s plan to make yuan convertible.

Maybank Islamic launched a Shariah-compliant trade finance solution tailor-made for middle market and corporate customers involved with commodity-based products.

Maybank has expanded its branch network in Cambodia with the opening of the fifth branch in the country. It is located at Chbar Ampov Town, south east of Phnom Penh City.

RHB Bank received Celent's 2009 Model Bank of the Year award for its use of SunGard's Ambit Treasury Management solution.

RHB wants its products easily understood, relevant and attractive, while making banking experience convenient through its concept "Easy by RHB".

Public Bank and AIG Consumer Finance Group formed a partnership in issuing and distributing Manchester United MasterCard credit cards in Malaysia.

Public Bank Group achieved a net profit of US$339.3 million in the first half of 2009. While the bank’s net profit for the same period in 2008 was US$367.59 million, it included a one-off goodwill payment of US$56.55 million from ING Asia/Pacific Limited in respect of the Group’s regional bancassurance distribution alliance with ING.

OCBC Malaysia will grow its bancasurance business by distributing Great Eastern Life Assurance developed products through its 29 conventional banking branches. This is made possible by the partnership formed between the two groups in the area of bancassurance following the recent liberalisation of the financial services sector in Malaysia.

Maybank appointed three directors to the Board, namely Tan Sri Datuk Dr Hadenan Jalil, Dato’ Seri Ismail Shahudin and Dato’ Dr Tan Tat Wai. It is effective 15 July 2009.

Baiduri Bank’s 'Bill Payments Made Easy Promotion' received an overwhelming response from clients, increasing the number of bill payments made via E-Channels. Available up to 15 August 2009, users are automatically entered into a draw and each month three lucky winners will win cash prizes of BND500.00 or US$699 each.

Maybank opened its fourth branch in Cambodia to reinforce its international network of over 400 offices in 13 countries. In addition, it has 384 branches in Malaysia as well as associates in Pakistan—the MCB Bank, and Vietnam—An Binh Bank.

Public Bank is banking on its new PB Day2Day Visa Card to push its total card numbers beyond 1 million.