Bank Rakyat mulls adding eight branches

7 of the proposed branches worth $327,118 each will be set up in Sabah.

Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat) plans to add another eight branches this year to its current 127 branch offices.

Minister of Domestic Trade, Cooperatives and Consumerism Datuk Seri Ismail Sabri Yaakob said, seven locations had been identified, while one more will be finalised later this year.

The seven locations are Limbang and Sirian in Sarawak, Putatan, Semporna, Kota Marudu (all in Sabah), Bentong (Pahang) and Kerteh in Terengganu.

The investment for each branch is RM1 million ($327,118), he told reporters at the launch of the bank's new takaful family products in Kuala Lumpur on Tuesday.

The products -- Takaful Murni, Takaful Didik and Takaful Amanah -- are the the bank's collaboration with Etiqa Takaful Bhd, and designed specially for the bank's customers.

"I am confident with the network of branches and service representatives nationwide, Bank Rakyat will be successful in marketing these products," he said.

View the full story in Bernama.