Maybank to expand operations

Maybank to expand operations

KUALA LUMPUR (DPA): Malaysia's biggest commercial bank,
Malayan Banking Berhad (Maybank), will expand its lucrative
overseas operations to focus on China and Middle East markets, a
news report said Tuesday.

Top bank officials said the bank aims to upgrade its Beijing
representative office to a full branch office within the next two
years, and to open operations in China's central region, the Star
daily reported.

Maybank recently opened a branch at the Pudong financial
district in Shanghai, which is expected to perform well.

For the Middle East sector, Maybank has applied for a license
in Bahrain to run Islamic-style financing for capital markets.

Maybank has 355 branches throughout Malaysia and operations in
the Philippines, Singapore, Brunei, Papua New Guinea, the U.S.,
Britain, Indonesia, Cambodia, Vietnam, Myanmar (Burma) and
Uzbekistan.

Muhammed said Maybank was planning to open a third branch in
Papua New Guinea, and was also eyeing opportunities in Indochina.