AmIslamic Bank, the Islamic banking subsidiary of AmBank Group, is targeting a contribution of 30 percent to the group's profit by 2012 from the current 25 percent.
Executive director, AmBank retail banking, Mahdi Murad, said to come up with the five percent increase, the bank would need to come up with more products for customers.
"We will be launching a new retail banking product next month. Besides that, we are also planning to launch new investment, unit trust, trade financing and structured products," Mahdi said.
"At AmBank we will either launch a core Islamic product which requires research and development or a Syariah-compliant product," he said.
In total, AmIslamic Bank has about 60 Syariah-compliant products.
The bank's general manager of organisation services, Jamaiyah Mohammed Nor, said in order to achieve the target, it would be looking in terms of the quality of assets.
"This means that we need to ensure our products are of good quality and we will be selective in our clientele," she told reporters after the bank's zakat contribution ceremony here Thursday.
This year, AmIslamic Bank contributed part of its zakat worth RM335,000 to 12 charity homes and organisations.
The presentation was made by AmBank Group's chairman Tan Sri Azman Hashim.
From Bernama
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