RETAIL BANKING | Cesar Tordesillas, Malaysia

BSN eyes RM1.3B net

Bank Simpanan Nasional targets to increase its net income to RM1.3 billion by the end of this year from RM1.032 billion in 2011.

This will be mainly driven by higher loan revenue and better utilisation of the community bank through various government initiatives.

Deputy Chief Executive (Retail Banking) Winston E. Jeyaprakash said this year, BSN expects better contribution from its non-interest income with the bank's enhanced infrastructure for wealth management and remittance. BSN is also planning to enhance versions of existing products as well as better and efficient online banking services.

"We are also looking to increase our agent base for the banking beyond branches (3B) services to 3,000 agents by end of this year from 2,016 agents who have done 1.3 million transactions worth about RM130 million as of Aug 31, 2012," said Jeyaprakash.

BSN's 3B is a branchless banking concept, offering financial accessibility to customers, especially in areas without banks, and enables customers to perform banking transactions conducted by authorised agents at retail outlets.

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