AmBank

RAJA Teh Maimunah Raja Abdul Aziz has resigned as managing director of wholesale banking at AMMB Holdings Bhd (AmBank Group) and is set to become the CEO of ...

The Edge, in its Oct 17 issue, reported that Aeon Credit expects its digital bank to start making a profit upon 4½ years of operations. According to Ajith, AEON Credit anticipates its digital bank being “operationally ready” — that is, having its first product, a particular type of savings account, ready for a test run — by October next year. We’ll have the basic savings [account] and current account [products], as well as loan products — microfinancing, short-term financing,” he said. She is currently a board member of Kumpulan Wang Persaraan (Diperbadankan), the country’s pension fund for civil servants. In August the following year, she relinquished the investment banking role to focus solely on the latter role. Such banks, which will be launched only in one to two years’ time, are expected to focus purely on the underserved and unserved markets.