MALAYAN Banking Bhd, Malaysia’s largest bank by assets, said it’s prepared to inject more funds into PT Bank Internasional Indonesia, aiming to double the unit’s asset size within five years.
“If we wish to double or triple the asset size, clearly we need to put in a bit more capital,” said Abdul Wahid Omar, chief executive officer of Maybank, as the Kuala Lumpur-based lender is known.
“We will be looking at doubling within five years.”
Any additional capital for Bank Internasional, which Maybank bought last year, would be financed by Maybank’s internally generated funds, Abdul Wahid said in the interview today.
Maybank spent more than US$2 billion buying bank stakes in Indonesia, Pakistan and Vietnam last year, seeking growth overseas amid increased competition.
Malaysian banks are now offering loans at rates that are “below the economic level,” Abdul Wahid said today. - Bloomberg
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