PETALING JAYA: Bank Muamalat Malaysia Bhd posted a profit before tax (PBT) of RM241.2 million for its financial year ended March 31, 2019, a 4.6% increase from RM230.5 million recorded in the previous financial year.
“The improved performance was underpinned by a steady growth in revenue driven by growth in gross financing and other operating income as well as our continuous effort in managing the cost of operations,” said its CEO Datuk Mohd Redza Shah Abdul Wahid (pix) said in a statement today.
Bank Muamalat’s revenue also grew 9.3% to RM1.33 billion from RM1.22 billion in the previous year, largely due to higher financing income of RM903.8 million, higher income in investment securities as well as higher gain recorded in foreign exchange transactions.
The group’s total gross financing grew 4% to RM15.5 billion as of March 31, 2019 against RM14.9 billion a year ago.
Asset quality-wise, its gross impairment ratio improved to 1.92% from 1.43%.
“These improvements are the results of our constant effort on prudent recovery, credit risk management initiatives and better quality financing base expansion,” said the CEO.
The bank’s capital position remained healthy with tier-I capital ratio and total capital ratio standing at 15.8% and 18.6%, respectively.
Moving forward, Bank Mualamat is making efforts to further strengthen its business in the gold and investment account as well as to concentrate its digitalisation efforts to keep up with current market demands.
