Monday, November 5, 2012

Bank Simpanan eyes RM1b deposits growth

BANK Simpanan Nasional is targeting its deposits to grow by RM1 billion next year from about RM9 billion now. Driving the growth would be the bank's BSN Stash Your Cash campaign which will run from November 1 to January 31 next year.

Source from (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/besn/Article/
Published: November 05, 2012

BSN retail banking deputy chief executive Winston E Jeyaprakash said the campaign is expected to bring in about more than 1,000 new accounts, adding to the current 10 million account holders.

He was speaking to reporters after launching the campaign at the 1 Utama shopping mall here yesterday.

The campaign is open to all existing savings account holders of BSN except for holders of Premium Savings Certificates and BSN Corporate Accounts.

New account holders are also eligible upon opening an account with a minimum deposit of RM500 while current account holders must deposit at least RM100 every month until the end of the campaign.

The lucky winners will win cash prizes from RM8,888 to RM88,000.

Winston said BSN being a community bank always encourages Malaysians to save.

"Malaysia has a very high savings rate and we have always been promoting Malaysians to save their money and I think we have been quite successful in doing so," he said.

He added that BSN's wide coverage in terms of branch network has made it easier for Malaysians, especially in rural areas, to make deposits or withdraw their savings.

BSN has close to 400 branches nationwide, 991 automated teller machines, 244 cash deposit machines and 2,400 registered BSN agents.

He said since the launch of BSN registered agents early this year, the response has been beyond the bank's expectations.

"We are anticipating the number of our agents to grow to 4,000 by the end of this year and by next year all Petronas stations will become our agents as well," he said.

Close to 70 per cent of BSN agents, which mostly comprise sundry shops, are located in the rural areas.

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