BIMB PROFIT RISES TO RM202.5M
Group’s 16.1pc annualised net return on equity one of the highest in the banking industry
BIMB Holdings Bhd’s net profit increased 17.6 per cent to RM202.52 million in the first quarter ended March 31, compared with RM172.14 million a year ago.
It said the strong performance translated into an annualised net return on equity of 16.1 per cent, one of the highest in the industry.
Earnings per share also improved, rising to 11.63 sen from 10.26 sen in the corresponding
period last year.
Group revenue in the quarter increased 18.4 per cent to RM1.18 billion from RM999.36 million previously.
BIMB said banking arm Bank Islam Malaysia Bhd’s profit before zakat and taxation (PBZT) increased 6.1 per cent to RM219.9 million from 207.2 million a year ago, mainly due to higher total net income.
On the funding side, it said the bank’s customer deposits and investment accounts stood at RM47.5 billion and RM6.4 billion, respectively.
The bank’s capital position continued to be healthy, with total capital ratio at 17.7 per cent compared with 16.9 per cent a year ago.
BIMB’s takaful business, Syarikat Takaful Malaysia Keluarga Bhd, recorded a higher PBZT of RM113.3 million from RM84.9 million in the same period last year.
Takaful Malaysia’s operating revenue of RM918.2 million in the quarter under review increased by 23.1 per cent.
This was mainly attributed to higher sales generated by the family takaful business, which recorded gross earned contributions of RM502.9 million, up 55.2 per cent from previously.