Bumiputra-Commerce wants to expand in the region

By YVONNE TAN

KUALA LUMPUR: Bumiputra-Commerce Holdings Bhd (BCHB) aims to expand its regional presence.

It is looking at various countries including Vietnam, its group managing director and chief executive officer Datuk Nazir Razak said.

The group currently has a presence in twelve countries.

Nazir said the group was exploring mergers and acquisitions (M&A) opportunities especially in Southeast Asia as it offered “a lot of opportunities”.

“Yes, there are a lot of opportunities out there. There is nothing imminent but we are exploring, ” he told reporters after the group’s AGM and EGM on Thursday.

He discounted possibilities of BCHB being involved in local M&A activities.

“We have already participated in the second round of banking consolidation,” he said.

He added that chances of it being involved in local M&A activities were “remote”.

To a question on whether the group would seek either investment or consumer banking opportunities abroad, Nazir said it “depends on the market”.

Nazir also said BCHB wanted to strengthen its Singaporean and Indonesian operations and rationalise its international offices.