Malaysian lender Alliance Financial Group (AFG) plans to raise its return on equity to 18 percent, Bloomberg reports. 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 Holdings of 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.
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