PETALING JAYA: Japan’s Seven Bank Ltd has established its fourth overseas group company in Malaysia, after entering the United States, Indonesia and t...
Japan’s Seven Bank Ltd has established its fourth overseas group company in Malaysia, after entering the United States, Indonesia and the Philippines.“They aim is to install ATMs in 7-Eleven stores across Malaysia, focusing on underbanked areas,” the source said.
Listed on the Tokyo Stock Exchange, Seven Bank is part of the Japanese retail giant Seven & i Holdings Co. Though mid-sized in Japan, Seven Bank is the country’s largest digital bank. It is unique for a digital bank because it has its own ATM network. “Malaysia is currently showing economic growth at 3.7% , and its demographic dividend period is forecast to continue until 2050 with a large proportion of younger generations, just like Indonesia and the Philippines.
Particularly, as for lifestyle habits in Malaysia, the proportion of people who pay in cash on a daily basis exceeds 70%, with the average number of withdrawals using ATMs being high compared with Japan and other Asian countries, it said.
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