Malaysia

Malaysia's central bank has given the green light for Affin to commence negotiations for a possible acquisition of equity interests in Bank Muamalat.

Malaysia Debt Ventures Bhd plans to develop three innovative financing products for technology SMEs by year-end.

Driven by growing loans and wealth management services Maybank beat expectations with a 25 percent rise in second-quarter net profit of RM1.44 billion.

Maybank expects its growth pattern to be in tandem along with the countries it operates in.

Thanks to the strong growth at CIMB Niaga and CIMB Singapore and outperformance at Corporate Banking and Treasury Markets.

AMMB Holdings is targeting an annual net profit of between nine and 12 percent for the next three years.

Maybank expects to issue 10,000 prepaid cards within the next 12 months as it targets double-digit growth in the sector within three to four years.

Hong Leong Islamic expects its debit cards to increase total deposits from RM75 million to RM200 million or US$64.13 million.

ABN AMRO will start providing its escrow and settlement services in Asia as it focuses its international growth on specialist businesses.

Reports say that unexpected legal hurdles hindered CIMB from acquiring RBS India assets.

The Association of Banks in Malaysia is sharing ideas with SMEs, business organisations and banks in Sabah and Sarawak through dialogue.

Bank Simpanan Nasional will appoint 260 agents by year-end to boost the current 57 agents for its 3B services in Penang.

Standard and Poor's foresees most banks in Southeast Asia capable of withstanding external pressures but must brace for slower economic growth amid the uncertain external environment in 2012.

Islamic finance players pay more attention to Organisation of Islamic Cooperation member countries before venturing into other continents, says a banker.

Public Bank's return on equity has peaked and is on a declining trend going forward, according to Alliance Research.

Public Bank's pre-tax profit slightly increased by 2.1 percent to RM2.49 billion in the first half from RM2.43 billion in the same period of 2011.