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Maybank looks out for acquisitions

Malayan Banking (Maybank) is looking at acquisition opportunities in countries like Thailand, Singapore or the Philippines in a bid to achieve its goal of deriving 40% of its profit from international operations by 2015. Maybank group president and CEO Datuk Abdul Farid Alias said based on its own business portfolio track record it should be able to reach 34%-35% of profits by 2015 organically. The remaining has to come from inorganic activities and the bank has a few options looking at inorganic growth, options that would lead it to succeed in getting 40% earnings outside Malaysia by 2015, he said. He said Thailand is a market that Maybank has not been able to penetrate from a commercial banking perspective although it is the biggest broker and investment bank there.

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