"Easy By RHB" To Contribute 20 Per Cent To RHB's Revenue
KUALA LUMPUR, May 18 (Bernama) -- RHB Banking Group expects its first-of-a-kind banking concept, "Easy by RHB", to contribute 20 per cent to retail revenue over the next three years.
Group managing director, Datuk Tajuddin Atan, said 'Easy by RHB', which currently offered conventional products, aimed to introduce Islamic products in the third quarter of this year.
"With the launch of Easy at 22 Tesco outlets nationwide, we will now have 55 outlets from our target to open 120 by year-end," he told reporters after the launch of 'Easy by RHB' at Tesco Ampang here Tuesday.
Easy offers simple, fast and convenient banking experience where customers just need to use their MyKad for on-the-spot approval and instant cash or loans up to RM50,000.
He said Easy would continue to help expand the bank's customer base.
"Tesco is Easy's first strategic partner and we have plans to team up with partners from other industries," he said.
The Easy at Tesco is available nationwide daily from 10am to 10pm.
Tajuddin said since the launch of the new concept in July 2009, the bank has disbursed about RM300 million in loans.
He said RHB was confident that loans growth would be sustainable despite an increase in the interest rate.
"The market demand is good and we expect the retail and business banking sector to boost loan demand," he said.
On regional listing, Tajuddin said, "if it allows me to extract value, I don't see any reason why we cannot."
Meanwhile, chief executive officer of Tesco Stores (M) Sdn Bhd, Tjeerd Jegen, said the collaboration with RHB was another step in its journey to develop value-added financial and retailing services, leveraging on the knowledge and best practice it has in Tesco UK and internationally.
-- BERNAMA