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EON Bank Expects 10 Per Cent Loan Growth By Year-End
KUALA LUMPUR, Nov 3 (Bernama) -- EON Bank Group is confident of achieving more than 10 per cent loan growth by year-end following aggressive campaigns and promotions launched this year.
Its group chief executive officer Michael Lor said the bank had already achieved more than RM1.5 billion in home loans as at end of September this year.
The bank also aimed to register RM200 million in new home loans via its new "Super Easi 123 Home Loan Fixed Deposit" product in the next three months, he said at the launch here Tuesday.
According to Lor, the home loan segment remained important to EON Bank as consumer lending represented 65 per cent of the total value lending asset.
"In the last two or three months, we saw some positive trends in the economy and it will continue to improve following the pro-business Budget 2010 announced recently," he said.
"As a result, we can expect business activities going back to normal, then people will continue to invest and buy assets, especially properties."
Lor said the new Super Easi product was pegged against the 12-month fixed deposit rate, which was more transparent and easy for customers to understand.
He said the product was competitively offered at up to fixed deposit rate plus 1.25 per cent, adding that EON Bank's one-year fixed deposit rate currently stood at 2.50 per cent, while the benchmark was at 5.55 per cent.
"The package is dedicated to all customers who apply for a home loan with the bank, both for refinancing and purchases of completed properties with a minimum property value of RM200,000," he added.
On the housing loan interest rate, Lor said: "It is generally trending up as banks begin to move into risk-based pricing by measuring the risks and cost of their products as well as the implementation of the FRS 139 framework."
He said the increasing rate of housing loans was unavoidable.
-- BERNAMA
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CLOSING, FRIDAY, NOV 20
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US |
3.3840/3870 |
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S'pore
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2.4348/4430 |
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100 Yen
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3.8065/8103 |
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Sterling
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5.6141/6204 |
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Euro |
5.0405/0460 |
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Source: Bank Negara
Malaysia |
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