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RETAIL BANKING | Cesar Tordesillas, Malaysia

New Malaysian bank eyes $785M in transactions

India International Bank Malaysia Bhd aims to record RM2.5 billion or US$785 million in loans and deposits in the next three years.

The bank's director, M. Narendra, said the bank, which just started operations today at its first branch in Jalan Raja Chulan with a capital of RM310 million, aims to increase the number of branches to 25 in the next five years.

"We are focusing on corporate, trade and small and medium enterprise lending. The demand is there," he said.

"The branches will be at the main cities with substantial Indian population, such as Klang, Johor Baharu and Penang. Kuala Lumpur will be our headquarters," he added.

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