BSN's Banking Agents Have Succeeded In Raising Transactions Among Rural Populace

CYBERJAYA, May 30 (Bernama) -- Bank Simpanan Nasional's (BSN) move to increase the number of banking agents is bearing fruit as evidenced by the brisk increase in transactions nationwide especially for bill payments, its chief executive Datuk Adinan Maning said.

Source from (Bernama): http://www.bernama.com/bernama/v7/bu/newsbusiness.php?id=953020
Published: May 31, 2013

He said the 4,050 banking agents appointed since January last year have helped BSN to record 6.2 million transactions worth RM560 million, with the bulk comprising 5.2 million bill payment transactions worth RM400 million.

Adinan expressed confidence that BSN would be able to appoint 5,000 banking agents by end-2013, reaching the targeted date of 2015 well ahead set by the government to increase the number of agents.

Besides this, deposits made up 600,000 transactions worth RM91 million, withdrawals recorded 420,000 transactions valued at RM66 million and Sijil Simpanan Premium transactions stood at 20,000 worth RM1 million, he told reporters on the sidelines of the 19th meeting of the World Savings Banks Institute (WSBI) Asia/Pacific Regional Group.

The government had tasked the national savings bank to appoint 5,000 banking agents over three years in 2012 Budget to enhance banking convenience to rural residents under the Rural Transformation Programme to develop the socio-economic status of the rural populace.

"In July this year, we plan to introduce new services through the agents that will provide additional income to the bank.

"Besides appointing banking agents, we are targeting to open three new branches this year with each branch costing around RM500,000," said Adinan.

Currently, BSN has 398 branches nationwide.

BSN's banking agent is a branchless banking concept, offering financial accessibility to customers, especially in areas without banks.

It enables customers to perform banking transactions conducted by authorised agents at retail outlets.

BSN today hosted the two-day meeting themed "Facing a Rapidly Evolving Banking Environment", which enables participants to review the banking landscape trends and assess their impacts on the banking industry.

The meeting was inaugurated by the Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah. Also present were BSN Chairman Tan Sri Abu Bakar Abdullah and WSBI Managing Director Chris De Noose.

WSBI is a global representative of savings and retail banking. It represents savings and socially committed retail banks or associations in 90 countries.

-- BERNAMA