BIMB Achieves RM430.2mil PBZT For Half Year Ended 2015

KUALA LUMPUR, 14 Sept (Malaysiaaktif) — BIMB Holdings Berhad (“BHB”) has reported a Profit before Zakat and Taxation (“PBZT”) for the half year ended 30 June 2015 of RM430.2 million, representing a growth of 7.3% or RM29.1 million as compared to the corresponding period in 2014.

The net profit attributable to shareholders also grew by 4.9% or RM12.5 million to RM265.6 million. Consequently, earnings per share for the period under review also rose from 16.95 sen to 17.26 sen.

According to a media release issued today, Bank Islam Group (“Bank Islam” or “the Bank”) reported a PBZT of RM350.3 million for the half year ended 30 June 2015. This represents an increase of 4.5% or RM15.0 million compared to the corresponding period in 2014.

The Bank continued to maintain traction in its financing growth with net financing assets recording a commendable year-on-year growth of 18.5% or RM 4.9 billion to reach RM31.1 billion as at 30 June 2015.

The statement said, for the first six months of 2015, net financing annualised growth was 10.8%. The Group’s customer deposits also registered a strong growth of 13.5% or RM5.1 billion year-on-year to reach RM43.3 billion, whereas for the first six months of 2015, annualised growth was 11.2%.

The current and savings accounts (CASA) reported a year-on-year growth of 5.2% or RM 0.7 billion. The CASA ratio as at end June 2015 stood at 33.8% compared to the Islamic Banking Industry CASA ratio of 24.8% as at end June 2015.

With the Bank’s continued efforts in managing its credit risk, the Bank was able to maintain its strong asset quality.  The Bank’s gross impaired financing ratio of 1.18% as at end June 2015 was lower than the Banking System’s ratio of 1.62% as at end June 2015.

The Bank’s capital position also remained healthy to support the continuous business growth with the Risk Weighted Capital Adequacy ratio of 14.3% as at end June 2015.

For the half year ended 30 June 2015, an interim single tier dividend of 5.27 sen per ordinary share, amounting to RM123.5 million was proposed by the directors of Bank Islam. Approximately 50% of the proposed interim single tier dividend totalling RM61.7 million is to be reinvested to subscribe for new ordinary share of RM1.00 at RM3.00 each via the Dividend Reinvestment Plan (DRP). The proposed dividend and the DRP has been approved by Bank Negara Malaysia.

Half year ended 30 June 2015 saw Takaful Malaysia Group recording a PBZT of RM112.0 million, an increase of 11.7% as compared to RM100.3 million in the corresponding period in 2014.

The higher profit is attributable to higher wakalah fee income. The operating revenue increased by 16.2% to RM996.0 million from RM856.8 million recorded for the corresponding period in 2014. The increase is mainly attributable to higher sales generated by both Family Takaful and General Takaful business and higher net investment income.