Thursday, September 29, 2011

Maybank expects loans to grow 10%-12% for 6 mths ending Dec 2011

KUALA LUMPUR: MALAYAN BANKING BHD [] (Maybank) expects its loan growth for the six months ending Dec 31, 2011 to hover between 10% and 12%, spurred mainly by corporate loans segment.

Its CEO Datuk Seri Abdul Wahid Omar said Maybank hoped to see its loan growth exceed the forecast local industry average of about 11% for 2011.

'We hope to achieve an ROE growth of 16% during the six-month period,' he said after Maybank's AGM on Thursday, Sept 29.

He said Maybank's primary growth route be organic although it would not discount the possibility of M&A if the opportunity arises.

Maybank had changed its fiscal year from December 31 to June 30 where the current period is a 6-month period ending Dec 2011.

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