ASEAN KEY DESTINATIONS
AFB to expand Indo presence
He said the bank was talking with the Indonesian bank for the merger and acquisition exercise.
"We plan to move into Indonesia in a big way to take advantage of the country's huge population," he told reporters after a signing ceremony between AFB, Hewlett Packard (HP) and Stone Apple Solutions here.
He said the bank already had a representative office in Jakarta.
On its expansion plan in Malaysia, Mohamed Azahari said AFB would open new branches in Penang and Kuching, and was waiting approval from Bank Negara Malaysia to open new branches.
Currently, the bank has branches in Kuala Lumpur and Johor Bahru.
On the agreement with HP and Stone Apple Solutions, Mohamed Azahari said the agreement was for deployment of a new end-to-end financial management solution that will allow the bank to enhance service levels and business growth.
He said the bank hoped that with the new financial management solutions, its asset would grow to almost 30 to 40 per cent by 2011.
He said the bank had invested RM30 million in information technology since 2007.
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