KUALA LUMPUR: CIMB Group Holdings Bhd hopeful of achieving its targets despite the less than favourable environment now, including external factors such as the recent Japan earthquake.
Its group chief executive Datuk Seri Nazir Razak said on Friday, April 22, 2011 that CIMB had set its targets but that was before the environment became challenging.
Speaking to reporters after the banking group's AGM, he said CIMB was hopeful about achieving its targets.
Nazir said CIMB had good momentum in its loans growth and its deal pipeline was also good.
On the outlook for the interest rates, he expected a 50 basis points increase in the overnight policy rate this year.
On the government's proposed private pension funds, he said CIMB was very ready to play a big role in the business after its experience in the US.
Nazir said private pension reforms were very important in Malaysia as 'we could have a huge pension problem if we don't deal with it now'.
He also said that during the AGM some shareholders had raised questions of whether the banking group would go to Laos and the Philippines as part of the Asean agenda.
'We would look at opportunities if they so arise,' he said about ventures in two countries. CIMB already has presence in Indonesia and Thailand.
As for a shareholder's query about a dividend reinvestment plan, he said there were no such plans.
He said the reason was that 'we will end up with capital that we don't need.'
Its group chief executive Datuk Seri Nazir Razak said on Friday, April 22, 2011 that CIMB had set its targets but that was before the environment became challenging.
Speaking to reporters after the banking group's AGM, he said CIMB was hopeful about achieving its targets.
Nazir said CIMB had good momentum in its loans growth and its deal pipeline was also good.
On the outlook for the interest rates, he expected a 50 basis points increase in the overnight policy rate this year.
On the government's proposed private pension funds, he said CIMB was very ready to play a big role in the business after its experience in the US.
Nazir said private pension reforms were very important in Malaysia as 'we could have a huge pension problem if we don't deal with it now'.
He also said that during the AGM some shareholders had raised questions of whether the banking group would go to Laos and the Philippines as part of the Asean agenda.
'We would look at opportunities if they so arise,' he said about ventures in two countries. CIMB already has presence in Indonesia and Thailand.
As for a shareholder's query about a dividend reinvestment plan, he said there were no such plans.
He said the reason was that 'we will end up with capital that we don't need.'
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