BIMB earnings 30.5% up

PETALING JAYA: BIMB Holdings Bhd’s earnings jumped 30.5% to RM183.43mil in the third quarter ended Sept 30, 2017 on the back a 4.4% hike in revenue to RM912.74mil.

The banking group declared an interim single-tier dividend of 14 sen per share.

The better earnings translated to higher earnings per share of 11.20 sen from 8.85 sen previously.

For the nine-month period, the bank’s profit before zakat and taxation (PBZT) rose 10.1% to RM732.2mil from RM665.1mil in the same corresponding period a year ago.

BIMB told Bursa Malaysia yesterday that the increase in PBZT was mainly due to a net write-back of allowances for impairment recovered against a net allowance charged in the corresponding period last year.

The group’s operating profit was down 3.6% to RM807mil from RM837.2mil on high- er income attributable to depositors and investment account holders as well as higher operating overheads.

The net profit attributable to shareholders was up 12.1% or RM50.6mil to RM470.2mil in the current quarter from last year.

Net asset per share improved to RM2.81 as at end-September 2017 compared with RM2.44 as at end-December 2016 and earnings per share (EPS) rose to 28.81 sen compared with 26.47 sen in the same corresponding period in 2016.

Meanwhile, Bank Islam group posted a higher PBZT of 9.2% to RM591.3mil for the nine months ended Sept 30, 2017.

BIMB said Bank Islam continued to maintain its financing growth with net financing assets recording a year-on-year growth of 8% or RM3bil to reach RM40.1bil as at the end of September 2017.