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Bank Islam’s PBZT Registers A Double-Digit Growth of 11.6 Percent In 1HFY2012

Highlights for the half-year period under review as at 30 June 2012:


  • PBZT rose 11.6% YoY to RM281.5 million
  • Total income increased by 13.6% YoY to RM915.9 million
    • Fund-based income rose by 12.3% YoY to RM794.6 million
    • Non-fund based income surged by 23.0% YoY to RM121.3 million
  • Robust net financing growth of 15.9% or RM2.3 billion to RM16.4 billion
  • Customer deposits totaled RM28.7 billion of which CASA comprised RM12.0 billion, equivalent to a CASA-to-deposits ratio of 41.8%
  • Continuous improvement to asset quality
    • Gross impaired financing ratio dropped to 2.0% (end-December 2011: 2.6%)
    • Net impaired financing ratio (less individual assessment and collective assessment) decreased to negative 0.5% (end-December 2011: -0.2%)
  • Strong capital adequacy ratio at 15.7% (before the proposed interim dividend of 3%)

KUALA LUMPUR, Thursday, [16 August 2012] – Bank Islam Malaysia Berhad (“Bank Islam” or “the Bank”) recorded a commendable set of results for the first half of the financial year 2012 (1HFY2012), reporting an 11.6% YoY jump in its profit before zakat and tax (“PBZT”) to hit RM281.5 million.

Judging from the 1HFY2012 financial performance, Managing Director Dato’ Sri Zukri Samat, in a statement, expressed confidence of exceeding the target of half-a-billion PBZT for the full financial year notwithstanding the increasingly challenging operating environment in particular moderating economic momentum mostly as a result of the global slowdown and heightened competition in the banking industry, both Islamic and conventional. “Towards this end, the Bank will continue with its robust risk management and vigilant credit assessment”, Dato’ Sri Zukri added.

Both Return on Equity (“ROE”) and Return on Assets (“ROA”) continued to be enhanced as at end-1HFY2012, rising to 19.0% (end-December 2011: 18.5%) and 1.7% (end-December 2011: 1.6%) respectively, driven by respectable profitability showing. The Bank’s ability to maintain a high ROA of above 1.5% largely reflects its on-going balance sheet reshaping efforts for optimal returns, product mix diversification drive, continuous cost containment initiatives and further improvement in funding cost structure.

During the 1HFY2012, compared to levels a year ago, total income increased by 13.6% YoY to RM915.9 million on the back of continuous double-digit growth for both fund-based income and non-fund based income, by 12.3% YoY and 23.0% YoY respectively. The increase in non-fund based income mirrors across-the-board gains in all focus areas in particular contribution from investment banking, trade finance and treasury activities. As a result, the ratio of non-fund based income to total income inched up to 13.2% as at end-June 2012 from 12.2% a year ago.

Net financings rose sharply by RM2.3 billion from levels as at end-December 2011, equivalent to a 15.9% growth, increasing the financing portfolio to RM16.4 billion as at end-June 2012 of which retail financings remained the major business driver. Notwithstanding such a robust financing growth, the Bank continued to improve its asset quality during the 1HFY2012 as indicated by the uninterrupted downtrend in its gross impaired financing ratio and net impaired financing ratio to 2.0% (end-December 2011: 2.6%) and negative 0.5% (end-December 2011: -0.2%) respectively as at 30 June 2012. “The Bank has fully implemented its new financing collection system to ensure sustainability of good asset quality”, said Dato’ Sri Zukri.

Bank Islam sustained its Risk-Weighted Capital Ratio (RWCR) at healthy levels of 15.7% as at end-June 2012, exceeding the minimum capital adequacy ratio requirement of 8% and the Islamic banking industry’s average of 14.0% as at end-May 2012.

Counting 125 branches nationwide at present, Bank Islam will continue with its branch network expansion programme as part of its strategy to garner retail deposits with the plan to open 9 new branches at strategic locations by end of this year. As at end-June 2012, customer deposits totaled RM28.7 billion of which current and savings accounts (“CASA”) amounted to about RM12.0 billion, translating into a CASA-to-deposits ratio of 41.8%. The Bank has doubled its customer base to almost 5 million at present in a span of just five years. Moving forward, Dato’ Sri Zukri reiterated the Bank’s focus on product innovation, competitive offerings and service delivery to enhance its franchise value, expand its market share and sustain commendable financial performance.

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