CIMB Islamic Bank anticipates up to 19% loan growth

CIMB Islamic Bankexpects a moderate total loan growth of between 15 per cent and 19 per cent for financial year 2011.

"Loan contribution from both the conventional and Islamic banks are growing and we expect our share of (loan) book to grow bigger as well, however not so fast," said Chief Executive Officer Badlisyah Abdul Ghan. "Probably it will surpass mid teens, about 15 to 19 per cent and that's the intention for this year."

Currently, CIMB Islamic's loans accounted for 13.8 per cent of CIMB Group's total loans.

CIMB Islamic is also confident of a moderate growth with the Syariah-compliant banking products amid the increasing demand and growth potential in the industry, he said.

The full story is available at Bernama News.