RHB Bank eyes 10% growth in northern customer base
GEORGE TOWN: RHB Bank Bhd expects its customer base in the northern market to increase by 10% in 2018 following the opening of a new branch in Tanjung Tokong on Penang island.
Group retail banking acting head and executive vice-president Nazri Othman said the northern region market is the second largest market in the country after the Klang Valley.
“It is more important than the southern market.
“Our customers in the northern region include the retail, small and medium enterprises and the affluent segments.
“The new Tanjung Tokong branch would drive up the customer base in the north by about 10% in 2018,” he added.
Nazri was speaking after the opening of the new branch in Wisma Binjul.
Nazri said mortgage loans are expected to grow by 16% in 2017.
“The growth of mortgage loans in the financing industry in the country is about 7% this year.
“In 2018, mortgage loans are projected to grow by about 13%,” he added.
He said the loans were focused on those building affordable homes or buying affordable homes.
“We are also optimistic on the growth of the retail sector.
“However, RHB tends to be selective as to the type of business it wants to finance,” Nazri added.
According to Nazri, the opening of the Tanjung Tokong branch and the Premier Centre marked another significant milestone for the RHB Banking Group as it increases its footprint to serve customers better.
Including this new branch, there are now 209 RHB branches in the country.