KUALA LUMPUR: Datuk Agil Natt, a former top executive at Malayan Banking Bhd (Maybank), has been appointed the chairman of Japanese lender Sumitomo Mitsui Banking Corp Malaysia Bhd (SMBCM).

The appointment comes at a time when SMBCM is looking to grow its Malaysian and regional franchise, in line with its parent company Sumitomo Mitsui Banking Corp’s ambition to become an Asia-centric institution over the next decade.

SMBCM is wholly-owned by Sumitomo Mitsui, Japan’s second-largest bank by assets.

“The medium- and long-term focus for SMBCM is to grow the Malaysian and regional franchise in partnership with both Japanese and non-Japanese customers in Malaysia,” SMBCM president and chief executive officer Yasuhiro Oashi said in a press release announcing Agil’s appointment. “I believe this will be achieved with the strong support and prominent experience and expertise of Agil.”

He said Agil was made SMBCM’s non-executive director and chairman effective March 9. He replaces Razman Hafidz Abu Zarim.

Agil was Maybank’s deputy president and executive director from 2004 to 2006. Prior to that, he had been head of its investment banking business, then known as Aseambankers Malaysia Bhd, for about four years.

He left Maybank in June 2006 and became the president and chief executive officer of the International Centre for Education in Islamic Finance, better known as INCEIF, where he served until 2011.

He is a director at several companies, including Cagamas Bhd, and is the chairman of Credit Guarantee Corp Malaysia Bhd and Export-Import Bank of Malaysia.

SMBCM has grown its assets more than tenfold since commencing its full banking business in Malaysia in April 2011.

“We have seen the business and total assets grow from RM345 million in March 2011 to over RM4.6 billion in September 2014, with a clear balance of quality assets as measured by the risk adjusted return on capital discipline,” its independent non-executive director Anthony Lim said.

Last month, the Philippines approved Sumitomo Mitsui’s application to set up a branch in Manila, becoming the first foreign bank to enter that country since it relaxed foreign ownership rules on financial institutions.

This article first appeared in The Edge Financial Daily, on March 18, 2015.