BIMB net profit rises to RM198.6mil

PETALING JAYA: BIMB Holdings Bhd posted a net profit of RM198.62mil for the third quarter ended Sept 30, up from RM183.43mil in the same quarter a year ago.

Revenue rose to RM1.09bil from RM912.74mil in the same quarter previously, the company said in a filing with Bursa Malaysia.

For the cumulative nine-month period, the Islamic financial services group made a net profit of RM520.67mil, up from RM470.20mil in the previous corresponding period.

Profit before tax and zakat (PBZT) stood at RM807.3mil for the nine months, up by 10.2% from before.

Earnings per share was at 30.84 sen, compared with 28.81 sen in the same nine months of the previous year.

Net asset per share rose to RM3.03 at end-September from RM2.77 as at end-December last year.

Annualised return on equity stood at 15.1%, placing it ahead of its peers in the banking industry.

Its Islamic banking arm, Bank Islam Malaysia Bhd, recorded a 5.8% rise in PBZT to RM625.7mil year-on-year (y-o-y) for the ninemonth period. In a statement, it said that the 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 this year.

“During the period under review, customer deposits and investment accounts (IA) stood at RM50.3bil, a y-o-y increase of RM4.2bil or 9.1%.

“Current and savings accounts or CASA and the transactional IA ratio was 32.3% or RM16.2bil.”

It added that Bank Islam’s liquidity position in the third quarter stood strong, with the liquidity coverage ratio at 139%.