KUALA LUMPUR (Oct 26): RHB Indochina Bank Ltd, a member of RHB Banking Group, has planned a slew of initiatives to drive retail expansion and promote digital banking to strengthen its position in Cambodia and the wider Indochina region.
Among RHB Indochina's key priorities next year is the roll-out of deposits campaigns to attract USD and KHR deposits, especially Current Account, Savings Account (CASA), as well as to increase SME loan portfolio by 12%.
“RHB Indochina is seeking to acquire US$575 million in deposits and maintain CASA composition at 45% of its business,” the group said in a statement today.
As at September 2018, RHB Indochina recorded an increase in loans by US$53 million year-on-year, with customer deposits up US$130 million with substantial balance growth from CASA.
The increase in customer deposits has resulted in asset growth by US$21.7 million. Cost-to-income-ratio (CIR) remained healthy and is kept below 1.1% as at September 2018 compared to 2018’s target, due to lower operating expenses.
Meanwhile, RHB Indochina said it will also be expanding its product and service offerings to meet growing demand of the business community and the Cambodian population by introducing Premier Banking, Safe Deposit Box and Debit Card.
RHB Banking Group's Chairman and RHB Indochina’s Group Managing Director, Datuk Khairussaleh Ramli, said the small and medium-sized enterprises (SME) sector plays a significant role in the Cambodian economic development contributing 40% to 50% of total employment and business activities within the Kingdom.
“As a multinational financial services group with a regional presence spanning 9 countries across the ASEAN region, Hong Kong and China, RHB is in a strong position to support SMEs, giving access to financing and by providing opportunities for business linkages and networking through organised trade missions to key markets, where RHB has presence.
“In the years to come, we will continue to support growth of the Cambodian economy, business community and the Cambodian population at large by strengthening our product offerings with holistic financial, as well as wealth solutions, that cater to the different segments of customers in Cambodia. We will also continue to collaborate with the local business community to promote onshore and offshore trading opportunities,” Khairussaleh said.
As celebration of its 10th anniversary today, RHB Indochina has also launched its RHB Mobile Banking App that allows customers to view their accounts online, pay bills, transfer funds, mobile reloads, and transfer cash through RHB Pay Anyone using email, phone or Facebook, without needing a bank account number. Since the launch of the internet banking platform in September last year, RHB Indochina has gained over 4,000 active users.