M T Banking For Business

KUALA LUMPUR: Malayan Banking Bhd (Maybank) expects its trade finance sector to contribute 20% to the group's revenue in financial year ending June 30, 2009 (FY09), following the introduction of its new online trade finance service.

The e-trade finance service, expected to be rolled out in April next year, is anticipated to contribute 20% to the group's revenue in its first year of implementation, and 25% for subsequent years, said senior executive vice-president, head of business banking Rozidin Masari after the signing ceremony for online trade finance services between Maybank and HCL (Malaysia) Sdn Bhd on Wednesday.

Rozidin said the trade finance sector contributed 16%-17% to the group's revenue for the last financial year.

At present, Maybank has more than 17,000 customers utilising its trade finance facilities, with about 3,000 business customers registered with Maybank2e.net, an integrated online enterprise cash management financial portal.

"We aim to convert 10% of our Maybank2e.net customers in the first year of rollout to use this service and to grow it by 30% each year," said Rozidin.

The online trade finance services via Maybank2e.net would "enable customers to utilise and monitor their trade financing activities and status online anywhere, anytime" said chief operating officer Datuk Johar Che Mat.

The new e-trade service, targeted at small-medium enterprises (SMEs) is expected to further enhance Maybank's present SME market, said Rozidin.

"We anticipate double-digit growth in SMEs and the commercial market for the financial year ending June 30, 2008 (FY08)," he added, in spite of only 1.1% growth in SME loans in its first quarter results ended Sept 30, 2007.

Banks missing opportunities to better serve small business - CFIB

Despite saying it wants to increase service to small- and mid-size business, Canada's banking sector is making little progress, the latest research from CFIB shows. Banking Matters reveals dwindling satisfaction with major financial institutions, with only two improving their rating since the previous survey in 2003.

"Since the late 1980s fewer and fewer small business owners have applied for bank financing," CFIB President Catherine Swift explains. Small business loan activity has remained fairly stable since 1988 while loan activity for larger businesses has increased significantly. "This trend shows the banks may be missing opportunities for growth with the small business sector that accounts for 45 per cent of the Canadian economy," Swift says. "You have to question whether banks are meeting the borrowing needs of small businesses."

CFIB asked members to rank their financial institution on nine performance indicators, including lending terms, service charges, access to full-service branch, online banking and treatment by their account manager.

TFN economic and business calendar to Wednesday Dec 5

LONDON (Thomson Financial) - Key items expected in the two weeks to Wednesday Dec 5 (approx GMT times) THURSDAY NOV 22 ASIA -Japan weekly capital flow -Japan Oct supermarket sales -Hong Kong Oct CPI BENELUX -Dutch Sept consumer spending -Belgian Nov business confidence indicator (1400 GMT). Forecast -1.0 vs -0.1 -Corio Q3 results -Ackermans Q3 results (0700 GMT) -GIMV H1 results (0600 GMT), press conference, analyst meeting EASTERN EUROPE -Polish Central Bank minutes of Sept meeting (1300 GMT) -Hungary Q3 international tourist data -Comarch news conference (1230 GMT) -Italian Prime Minister Romano Prodi begins official visit to Russia -Private Banking 2007 conference opens at Radisson SAS Slavyanskaya, Moscow EUROPEAN UNION/EURO AREA -Euro zone Sept current account (adjusted) (0900 GMT). Forecast +2.8 bln eur vs +3.8 bln -Euro zone Sept industrial orders (1000 GMT).

Credit Agricole's Calyon streamlines structured credit arm; appoints new head

PARIS (Thomson Financial) - Credit Agricole's investment banking arm Calyon has appointed a new head of structured credit markets as part of its move to reorganise its structured credit business unit 'in line with the current market environment'.

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South Africa: Standard to Raise Transaction Charges

Standard Bank would increase its transactional bank charges an average 4,65% from January, its CEO for personal and business banking for SA, Sim Tshabalala, said yesterday.

TFN NEWS BRIEFING: Banking and insurance highlights to 09:15 GMT

2007-11-21 09:12:28 Japan's Mitsubishi UFJ H1 net profit falls 49 pct TOKYO (Thomson Financial) - Mitsubishi UFJ Financial Group Inc, Japan's largest banking group, said Wednesday its first-half net profit fell 49 percent, reflecting writedowns for its struggling credit card business and losses related to its subprime loan exposure.

2007-11-21 08:54:22 EU mortgage reform white paper to propose making early repayment easier - report FRANKFURT (Thomson Financial) - The European Commission's long-awaited white paper on the mortgage industry will make it easier for customers to pay off their mortgages early, a report in German daily Boersen-Zeitung says.

2007-11-21 08:49:35 Swiss Re CEO sees no 'fundamental changes' at Financial Services ops ZURICH (Thomson Financial) - Swiss Re chief executive Jacques Aigrain said he sees no "fundamental reason" for a change in the reinsurer's strategy regarding its Financial Services segment but pledged to more closely monitor risks.