HSBC Amanah to open more branches in the south

JOHOR BARU: HSBC Amanah Malaysia Bhd plans to open more branches in the southern region, comprising Johor, Malacca and Pahang, in the coming years.

HSBC Amanah to open more branches in the south

HSBC Bank Malaysia Bhd area director (southern region) Alias Harun said the three states offered good long-term growth prospects and business opportunities in the Islamic banking segment especially with activities from the economic growth corridors of Iskandar Malaysia and East Coast Economic Region (ECER). Iskandar Malaysia covers the southernmost part of Johor while ECER covers Pahang, Kelantan and Terengganu and part of Johor’s Mersing.

“I can’t tell you exactly how many branches we are planning to open in the southern region as this comes under the purview of our corporate headquarters,” Alias said at the handing-over of the premises for the HSBC Amanah’s new branch in Taman Nusa Bestari by KSL Holdings Bhd’s wholly owned subsidiary Khoo Soon Lee Realty Sdn Bhd.

It would be HSBC Amanah’s eighth branch and the first in Johor – the other branches are two in Penang and one each in Bandar Utama, Ampang, Klang, Shah Alam and Cheras.

HSBC Amanah is a full-fledged Islamic bank, wholly-owned by HSBC Bank Malaysia Bhd. “This year also marks our 100th anniversary in Johor when we first opened our HSBC Bank in Johor Baru in 1910,” said Alias.

He said the corporate headquarters has lined up several activities in conjunction with its centenary in Johor and would announce the details at appropriate times.

Alias said the Islamic banking segment would be as important as the conventional banking in the country as Malaysia strongly advocated the banking segment and many countries were looking at Malaysia as a leader in it.

Khoo Soon Lee Realty general manager Tang Ching Tong said presently, there were seven banks operating in Taman Nusa Bestari and many local and foreign banks would open their branches soon.