AmBank Islamic aims to record slightly higher loans growth in FY18

KUALA LUMPUR: AmBank Islamic Bhd aims to record a slightly higher loans growth than the industry’s average of between four per cent and five per cent for thefinancial year ending March 31, 2018 (FY18).

Chief executive officer Eqhwan Mokhzanee Muhammad said the target would be mainly driven by small and medium enterprises and the mass affluent market segment.

“The focus is to drive the SME business under the group’s fouryear strategy. We hope with the formation of business banking and greater focus on SME, it would initiate our balance sheet to be more profitable and efficient,” he told reporters after a signing ceremony between AmBank Islamic and Tabung Waqaf Rakyat Johor with JomPAY yesterday.

Meanwhile, AmBank Islamic recorded gross financing of RM27.78 million in 2016. AmBank Group is expected to announce its financial results this month. Tabung Waqaf Rakyat Johor is a unit under Perbadanan Islam Johor (PIJ) while JomPAY is a national bill payment scheme established and operated by the Malaysian Electronic Clearing Corporation Sdn Bhd, with the participation of banks and a growing number of over 1,400 billers.

The partnership is part of AmBank Islamic and PIJ’s effort to make its easier for the public and the corporate sector to make their waqaf contributions to Tabung Waqaf Rakyat Johor. — Bernama