BIMB Holdings Bhd, Malaysia’s premier Islamic financial services Group, announced today, a 10.2% increase in PBZT to RM807.3 million for the nine months ended 30 September 2018, from RM732.3 million in the same period last year.

Earnings per share was 30.84 sen, compared with 28.81 sen in the same nine months the previous year. Net asset per share rose to RM3.03 at end September 2018 from RM2.77 at end December 2017. Its Group annualised ROE of 15.1%, places it ahead of its peers in the banking industry.

Islamic Banking

The Bank Islam Group’s (“Bank Islam” or “the Bank”) PBZT rose 5.8% or RM34.4 million to RM625.7 million over the same corresponding period in 2017.

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% or RM4.2 billion to reach RM44.3 billion as at 30 September 2018.

During the period under review, customer deposits and investment accounts (“IA”) stood at RM50.3 billion, a Y-o-Y increase of RM4.2 billion or 9.1%. Current and Savings accounts (“CASA”) and Transactional IA ratio was 32.3% or RM16.2 billion.

Bank Islam’s liquidity position for the 3rd quarter of 2018 stood strong with the liquidity coverage ratio at 139%, surpassing regulatory requirement and the financing to available fund ratio of 83%, better than the banking industry average.

The Bank continued to maintain its strong asset quality which is reflected in the low gross impaired financing ratio of 0.97% as at end September 2018, compared with 1.58% registered by the banking system as at end August 2018.

The Bank’s capital position also remained healthy to support the continuous business growth with a Total Capital ratio of 16.4% at end September 2018.

Takaful

Syarikat Takaful Malaysia Keluarga Berhad (“Takaful Malaysia”) recorded a PBZT of RM234.2 million in the period under review, an increase of 18.5% from the RM197.6 million in the first nine months of 2017. The higher profit was attributable to higher net wakalah fee income arising from the business growth in the Family and General Takaful business.

Operating revenue rose 19.5% to RM1,937.6 million from RM1,621.4 million in the corresponding period in 2017. The increase was mainly attributable to higher sales by both the Family Takaful and General Takaful business.

Its Family Takaful business generated gross earned contributions of RM1,110.9 million, compared with RM948.0 million in the same period in 2017, an increase of 17.2%. The increase was due mainly to higher sales from credit-related products.

General gross earned contributions on the other hand rose 25.8% to RM519.7 million from RM413.1 million in the same corresponding period in 2017. The growth was mainly from fire and motor classes.

Twitter