Maybank to capitalise on business growth in key areas
KUALA LUMPUR: Malayan Banking Bhd (Maybank) is poised to capitalise on identified business growth in key areas of Group Community Financial Services, Group Global Banking and Group Insurance and Takaful in the home markets.
In its annual report 2023 filed with Bursa Malaysia, Maybank said the focus will cut across fund-based and fee-based income, leveraging the group’s regional presence and sizeable customer base.
“The group will advance the application of value-based banking principles through its solutions and services as a strategic differentiator to drive economic value.
“In our ongoing effort to manage risks effectively, maintaining robust asset quality, ensuring sound liquidity, and bolstering strong capital reserves will remain our top priorities,” it said.
Meanwhile, the rollout of its digital solutions will be accelerated in line with its holistic, regional digital business model to address end-to-end customer lifestyle and business needs to deepen relationships with existing customers and acquire new customers.
“Investments will be made to ensure enablers and capabilities can cope with the business and operational needs,” it added.
Barring any unforeseen circumstances, the group targets to achieve a headline key performance indicator of return on equity of 11 per cent for financial year 2024. — Bernama
SHORT-TERM interbank ratesclosedsteadyyesterday on Bank Negara Malaysia’s (BNM) operations to absorb surplus liquidity from the financial system.
Liquidity in the conventional system was lower at RM20.64 billion from RM28.63 billion yesterday morning, while liquidity in Islamic funds rose to RM24.19 billion from RM20.94 billion previously.
Earlier, the central bank conducted two conventional money market tenders and two reverse repo tenders.
THE Malaysian rubber market ended easier yesterday amid weaker regional rubber futures markets and declining crude oil prices.
Nevertheless, a dealer said further losses were capped by a weaker ringgit against the US dollar, coupled with encouraging economic data in the United States and China. The Malaysian Rubber Board price for Standard Malaysian Rubber 20 fell 5.5 sen to 760.5 sen per kilogramme (kg) while the price of latex-in-bulk shaved 0.5 sen to 767.5 sen per kg.
Oil prices fell yesterday, pressured by a stronger dollar and after industry data showing a surprise, outsized build in US inventories challenged the notion of tighter markets in the near term.