|
|
Article: Special Supplement: Brunei - Banks Battle For Customers - Competition Is Heating Up For A Share Of Brunei's Consumer Finance Market. Simon Montlake Talks To Local Banks And Foreign Entrants About Their Strategies.
- Article from:
- The Banker
- Article date:
- August 1, 2004
CopyrightCOPYRIGHT 2004 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Newcomers to Brunei might be surprised to find that its small but affluent population of 340,000 is serviced by no fewer than nine domestic and foreign banks. In a country roughly the size of the US state of Delaware, a branch is never too far away, with some staying open until 10pm on weekdays for late-night transactions.
While some banks are focused on specialised niches, such as Citibank's private banking unit, the majority are rolling up their sleeves and pitching for a share of the booming consumer finance market. This is where the competition gets toughest, particularly for selling personal loans and issuing credit cards, which have spread rapidly in recent ...