MBSB bullish on growth prospects

TheStar Wed, Jun 12, 2019 07:30am - 4 years View Original


President and CEO of Malaysia Building Society (MBSB) Ahmad Zaini Othman (left) and CFO Tang Yow Sai at the AGM. - Bernama

President and CEO of Malaysia Building Society (MBSB) Ahmad Zaini Othman (left) and CFO Tang Yow Sai at the AGM. - Bernama

KUALA LUMPUR: The new bank in town, Malaysia Building Society Bhd (MBSB), is more bullish on its growth prospects as compared to its peers.

MBSB is targeting a loan growth of about 5% for the financial year ending Dec 31, 2019 (FY19), as compared to its FY18 loan growth of 3%.

The group’s loan growth target is somewhat higher than industry estimates as projected by Maybank Investment Bank Research. Following lacklustre results reported by the banking sector, the brokerage has since trimmed overall loan growth and domestic industry loan growth estimates from 5.1% previously to 4.7%.

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