BSN aims for 17% loan growth this year (Updated)
Industry News

Source : www.thesundaily.my

KUALA LUMPUR (April 3, 2013): Bank Simpanan Nasional (BSN) is aiming for an overall loan growth of 17% in 2013, slightly lower than last year, said its deputy chief executive (retail banking), Winston E. Jeyaprakash.

"We foresee challenges in the market. There is also the Bank Negara Malaysia lending guidelines that we need to comply with. This is the reason for targeting a lower loan growth of 17%," he added.

He said total loans for last year grew about 21% to RM2 billion.

"Personal loans contributed RM1.3 billion, mortgages RM650 million and micro finance about RM100 million," Winston told Bernama at a prize-giving ceremony here today.

BSN is one of the micro finance providers in the country and to date has some 27,000 borrowers nationwide.

Meanwhile, Winston described recent BSN's campaign to promote its products as being "very successful".

The six-month long campaign featuring the Customer Update Campaign through ATM, "Capai Impian Berganda" and Stash your Cash, ended on Jan 31 and saw the participation of one million customers.

For the Stash your Cash campaign alone, BSN achieved deposits of between RM750 million and RM800 million, surpassing its initial target of RM400 million. Bernama

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