Singapore-based OCBC Bank is looking to grow
its retail banking business in Malaysia and generate 40% of country
revenue from its retail unit by 2014.
Retail banking currently accounts for 27% of
Malaysian revenue.
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But the director and chief executive of OCBC
Bank Malaysian, Jeffrey Chew, told local media that the bank saw
“tremendous opportunity to grow the consumer business”.
Chew said that the bank had invested heavily
in customer relationship management tools, product deployment and
delivery and driving down costs in 2010.
He added that the bank aims to gain a greater
market share both in the retail and in Islamic banking segment: the
bank currently has a market share of 5% in each segment.
In Islamic banking, OCBC aims to grow the
segment’s contribution to Malaysian by 3 percentage points to
10%.
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By GlobalDataOCBC will expand its Malaysian-based Islamic
subsidiary, OCBC Al-Amin, by opening new branches and rolling out
new products.
Malaysia accounts for one-fifth of OCBC group
turnover and is the lender’s biggest market outside Singapore.
