Bank Islam Malaysia Bhd (BIMB) is poised to achieve a 20% to 25% growth in consumer banking in its current financial year.

The division currently contributed about 50% to BIMB's total revenue, said general manager for consumer banking Wan Ismail Wan Yusoh.

He said this at the signing of a partnership agreement between BIMB and e-pay Gateway Sdn Bhd, a system integrations and support expert, in Kuala Lumpur yesterday.

He said the partnership would enable BIMB to implement the EuroPay-MasterCard-Visa (EMV) chip card terminal to support its MEPS cash, credit card and e-debit transactions.

We expect credit card usage to contribute around 20% of total revenue to be generated for consumer banking, he said.

Wan Ismail said that in the past six months, BIMB had installed and commissioned 1,000 terminals with MEPS cash and credit card capability.

We are also targeting to deploy another 500 terminals by year-end, he said, adding that about 70% of the terminals would be in major towns nationwide.

BIMB currently has 1.3 million account holders and 600,000 credit card holders.

It now has 87 branches nationwide and expects to open another three, costing about RM500,000 each, by year-end.

From The Star