Singapore-based OCBC bank is estimating
to spend about MYR100m (32.8m) to invest in new branches, revamp
and expand existing ones and upgrade its banking
technology.
Part of OCBC’s growth strategy is to
double the number of its Al-Amin branches, which offer Islamic
banking services, by opening five more units in 2011.
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The total investment for the branch expansion
and upgrade may cost up to RM54m, the bank said.
In January, the bank had announced that it
targets a growth in its retail banking
business.
Retail banking currently contributes 27% to
the bank’s operations. The bank aims to grow retail banking
contribution to 40% within the next five to seven years.
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