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AFG To Boost Equity Return To 18%
Malaysian lender Alliance Financial Group plans to raise its return on equity to 18 percent.
Malaysian lenderAlliance Financial Group(AFG) plans to raise its return on equity to 18 percent,Bloombergreports. The bank will concentrate on growth in consumer and small-business banking. The ratio will be increased to the targeted 18 percent in a span of five years.Temasek Holdingsof Singapore holds a stake in Alliance Financial.
Alliance will offer wealth management products to draw rich clients and boost services to a segment of corporate borrowers overlooked by competition. The bank’s return on equity was 13 percent in the previous year.
Click here for the story fromBloomberg.