Bank Rakyat On Track To Achieve 12 Per Cent Loan Growth This Year, Says Managing Director

KUALA LUMPUR, Nov 20 (Bernama) -- Bank Rakyat is on track to achieve the anticipated 12 per cent loan growth this year, Managing Director Datuk Yusof Abdul Rahman said.

Source from (Bernama): http://www.bernama.com/bernama/v6/newsbusiness.php?id=710307
Published: November 21, 2012

As at September, the bank's total loan portfolio stood at RM49.7 billion, up 12 per cent year-on-year as compared to the same period last year, he said.

"The biggest contributor comes from personal financing, which contributed 75 per cent of retail loans," he told reporters at the bank's Islamic Medium Term Notes Programme signing ceremony.

On the bigger picture, Yusof said, retail loans contributed 78 per cent of total loans, commercial loans contributed 11 per cent, while the rest came from Islamic pawnbroking business, Ar-Rahnu.

He said Bank Rakyat was planning to open three more branches and five Ar-Rahnu offices, investing about RM1 million to RM1.5 million for each branch, and RM350,000 to RM400,000 for each Ar-Rahnu outlet.

Currently, the bank has 136 branches and 42 Ar-Rahnu outlets nationwide.

-- BERNAMA