RHB Bank plans to grow profit three-fold in Singapore in two years
Malaysia's fourth largest lender RHB Bank, which has seven branches in Singapore, plans to grow its profit three-fold within the next two years.
To this end, the bank will focus on growing its business banking, specifically for small and medium-sized enterprises, as well as corporate and investment banking.
RHB Bank Berhad Singapore officially opened its latest branch on Thursday in Westgate Mall, which according to Mr U Chen Hock, the banking group's director of international business, is the first of a series of activities to support its growth strategy in Singapore.
Singapore is already the top contributor to the bank's international business, which spans Asean, China and Hong Kong. The target is for international businesses to contribute some 40 per cent to the group's earnings by 2020.