KUALA LUMPUR (April 11): Malayan Banking Bhd (Maybank) is aiming to disburse RM50 billion in mortgages and RM35 billion in loans to small and medium enterprises (SMEs) over the next three years.
Maybank president and chief executive officer Datuk Abdul Farid Alias said the bank disbursed a total of RM12.2 billion in mortgages in 2018, bringing its total mortgages disbursed to RM87.5 billion.
For SMEs, Farid said Maybank’s current loan size stood at RM41.1 billion, comprising RM24 billion for business banking and RM17.1 billion for retail SMEs.
Farid, who was speaking to the press after the group’s annual general meeting today, affirmed Maybank and the banking industry’s support for the Malaysian economy.
“Our approval rate for mortgages for eligible applicants as at March is 80%. And the entire industry’s approval rate is about 70%, so the industry has been supporting the borrowers who need to fund homes,” he said.
As at 3.49pm, shares of Maybank were traded one sen or 0.11% lower at RM9.27 — after some five million shares crossed — bringing a market capitalisation of RM102.54 billion. — theedgemarkets.com
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