KUCHING: BIMB Holdings Berhad (BHB) posted a consolidated Profit Before Zakat and Taxation (PBZT) of RM595.5 million for the nine month period ended September 30, 2014, a decrease of RM3.2 million or 0.5 per cent compared to the previous corresponding period.
Group managing director and CEO of BHB, Datuk Johan Abdullah highlighted that as a result of the acquisition of 49 per cent interest in Bank Islam Malaysia Berhad, the net profit attributable to the shareholders increased by RM159.2 million or 72.7 per cent.
Consequently, the earnings per share (EPS) for the period under review also increased by 23.3 per centto 25.34 sen per share.
Year-on-year (y-o-y) net financing assets grew by RM4.8 billion or 21.4 per cent to reach RM27.4 billion as at September 30, 2014, as asset quality remained unchanged with a gross impaired financing ratio of 1.18 per cent as at September 30, 2014.
The Risk Weighted Capital Adequacy ratio of Bank Islam Malaysia Bhd remained healthy at 13.7 per cent.
On the Islamic banking side, Bank Islam Group (Bank Islam) recorded a PBZT of RM506.3 million for the nine months period.
This represented an increase of 6.4 per cent compared to the previous corresponding period.
The improved performance was mainly attributed to growth in business activities.
Customer deposits stood at RM38.1 billion with a y-o-y increase of RM2.7 billion or 7.6 per cent, whereas, the low cost current and savings account (CASA) reported a y-o-y increase of RM1.9 billion or 15.2 per cent.
The CASA ratio as at end of September 2014 was 37.7 per cent compared to the position as at end of September 2013 of 35.2 per cent.
The Islamic Banking Industry CASA ratio was 25.1 per cent as at end of August 2014.
The Bank’s gross impaired financing ratio as at end of September 2014 remained the same at 1.18 per cent compared to the position as at end of December 2013.
The net impaired financing ratio stood at a negative 0.81 per cent as at end of September 2014.
For the nine months period, Takaful Malaysia Group (Takaful Malaysia) recorded a PBZT of RM142.5 million, increased by 13.5 per cent as compared to RM125.6 million in the same corresponding period last year.
The higher profit was attributable to lower management expenses, commissions and expense reserves.
Operating Revenue was at RM1,251.2 million, compared to RM1,334.5 million in the same period of the preceding year.
The decrease was mainly due to lower sales generated by Family Takaful business.
General Takaful recorded gross earned contributions of RM338.0 million as compared to RM323.1 million in the corresponding period last year.
For the nine months period under review, the surplus transfer from General Takaful was RM38.7 million as compared to RM32.2 million in the same corresponding period last year.
The higher surplus transfer from General Takaful was mainly due to lower claims incurred.