KUALA LUMPUR, 18 June 2008 – AIM-listed ICB Financial Group Holdings AG (ICB Banking Group) today announced that it has invested in the SAS Banking Intelligence (BI) Solutions to better streamline and manage the Group’s banking operations across twelve (12) countries from its management office in Kuala Lumpur, Malaysia.
Speaking at a partnership signing ceremony with SAS Malaysia today, ICB Group CEO, Encik Harith Harun says that ICB’s rapid worldwide growth spurred the urgent need to invest in a solution that could provide the Group with full, multi-dimensional insights into its banking operations, facilitate efficient retrieval of financial information and generate greater operational efficiency.
“Within the last twelve (12) years, the ICB Banking Group has established or acquired commercial banks across Eastern Europe, Africa and Asia.The holding company, ICB Financial Group Holdings AG which was listed on the AIM Market of the London Stock Exchange in May 2007 has been repositioning itself for further growth and is aggressively implementing initiatives to provide a comprehensive range of financial services throughout the Group’s banks. “With the management office located in Kuala Lumpur, partnering and tying up with SAS Malaysia will bring about positive synergies and cost effectivess benefits” says Harith.
“According to Harith, SAS offers a suite of integrated, banking specific solutions which can glean real intelligence on a fast track from the huge volumes of data which is scattered throughout dozens of systems, geographies and lines of business within the ICB Banking Group. It will provide solutions to support successful management of all relevant risks while maintaining Basel II compliance, increase customer profitability, improve operational efficiency and align, track and measure performance.
“We have also considered the fact that SAS Solutions is the preferred BI brand for most of the local banks, and that they can support ICB with a tailored solution that addresses our specific requirements and needs in managing our worldwide banking operations,” adds Harith.
Yip Yoke Ling, Professional Services Director of SAS Malaysia says, “ICB is definitely moving in the right direction to achieve its expansionary and growth goals. We are confident that SAS Banking Intelligence Solutions will prove to be an essential BI investment for ICB to gain a competitive edge in its banking businesses.”
To start with, ICB will be using SAS Financial Management and Management Information Systems (MIS) solutions to help it report, manage and improve the financial performance of the entire group. SAS Financial Management improves the accuracy, relevance and timeliness of financial plans and reports while promoting the alignment and execution of strategy. Through SAS MIS solution, ICB will be able to integrate data from across their entire enterprise and deliver self-service reporting and analysis, enabling their key business users to spend more time on making better, more informed decisions. The solution leverages the analytic power and scalability of the SAS Intelligence Platform to facilitate flexible and operational planning within a collaborative environment – across the entire enterprise.
ICB Financial Group Holdings AG is the holding company for ICB Banking Group (ICB) which is an international banking group with primary focus on emerging economies. The Group currently operates commercial banks in 12 countries across Eastern Europe, Africa and Asia with total branch network of 134 offices worldwide.
ICB Financial Group Holdings AG, was successfully listed on AIM (Alternative Investment Market) of the London Stock Exchange on 17th May 2007. The listing of the Group has elevated and raised the profile of the Group to a higher level whereby there will be more opportunities to access to new capital which will support future expansion plan.
For more information, please visit www.icbankingroup.com.