Bank Simpanan sees higher income of RM1.3b

KUALA LUMPUR: Bank Simpanan Nasional (BSN) expects its net income to touch RM1.3 billion by the end of this year from RM1.032 billion in 2011, mainly driven by higher loan revenue and better utilisation of the community bank through various government initiatives.

Source from (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/10BSN/Article/
Published: September 11, 2012

Deputy chief executive for retail banking, Winston E. Jeyaprakash said BSN expects better contribution this year from its non-interest income with its enhanced infrastructure for wealth management and remittance.

He said 2012 is expected to be a better year for BSN as it has plans for enhanced versions of existing products as well as better and efficient online banking services.

"We are improving our infrastructure and banking channels such as Internet banking. We are bringing it to a very new level.

"We are also looking to increase our agent base for the banking beyond branches (3B) services to 3,000 agents by end of this year from 2,016 agents who have done 1.3 million transactions worth about RM130 million as of August 31 2012," Jeyaprakash said on the sidelines of BSN's Hari Raya open house yesterday.

BSN's 3B is a branchless banking concept, offering financial accessibility to customers, especially in areas without banks, and enables customers to perform banking transactions conducted by authorised agents at retail outlets.