CIMB targets 17-18% growth in retail deposits

CIMB Bank is hoping to grow its retail deposit business by 17 to 18%  this year from RM53 billion last year.

Peter England, head of retail financial services, anticipates business to pick up by the second half en route to achieving its targets. 

“People tend to spend more as they get their bonuses at the end of the year,” he said.

England said the bank’s retail deposits rose by 21% to RM9.4 billion for the period between April 2011 and April 2012.

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