AmIslamic Bank, the Islamic banking arm of Malaysia-based AmBank Group, is, reportedly, eyeing to increase its loan growth by 8-9% for the financial year ending 31 March 2015, according to the bank’s managing director and CEO Datuk Mahdi Murad.
Murad was quoted by the sun daily as saying that they are targeting single-digit growth for financial year 2015, but they are hopeful to achieve double digits.
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"The driver will be (the) corporate banking side," Murad added.
Being strong in the retail segment, the AmIslamic Bank will now target non-retail segment.
Murad said their asset composition towards retail segments is about 60% now, so they are targeting to expand the non-retail segment by 45% for the financial year ending 31 March 2015.
"We are already strong in the retail businesses like Islamic mortgage and Islamic loan hire purchase. We are now moving towards more commercial and fee-based because this year and next year, we expect more government projects to be funded under the Economic Transformation Programme and other infrastructure projects," Murad added.
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By GlobalDataAmIslamic Bank also has plans to roll out a new product, Commodity Murabahah, in June 2014.
