BIMB’s 3Q net profit jumps to RM198.62 mln
KUALA LUMPUR: BIMB Holdings Bhd’s net profit in the third quarter ( 3Q) ended Sept 30, 2018 rose to RM198.62 million from RM183.43 million in the same quarter last year.
Revenue jumped to RM1.09 billion from RM912.74 million in the corresponding quarter, it said in a filing with Bursa Malaysia.
The Malaysian premier Islamic financial services group said it registered an annualised return on equity of 15.1 per cent, placing it ahead of its peers in the banking industry.
Its Islamic banking arm, Bank Islam Malaysia Bhd, recorded profit before zakat and taxation ( PBZT) of RM225.0 million for 3Q 2018, an increase of RM1.5 million or 0.7 per cent compared with the corresponding quarter last year of RM223.5 million. The increase in PBZT was mainly due to higher total income.
“The bank’s improved performance was mainly due to higher income generated by the increase in the Base Rate and Base Financing Rate by 25 basis points effective February 2018, as well as stronger financing growth.
“Year- on-year net financing grew 10.4 per cent or RM4.2 billion to reach RM44.3 billion as at Sept 30, 2018,” it said.
Meanwhile, the bank’s Takaful Malaysia Keluarga Bhd recorded PBZT of RM87.8 million in Q3 2018, a 33.0 per cent increase compared with RM66.0 million in the same period last year. The increase in profit was mainly attributable to an increase in net wakalah fee income. — Bernama