·  Revenue grew 9.3% y-o-y growth to hit RM1.33 billion in FY2019;

·  Achieved a record Profit Before Tax of RM241.2 million;

·  Gross impaired financing decreased to 1.43%, lowest since its establishment;

·  Gross financing grew 3.9% to RM15.5 billion; 

·  Capital remained healthy with Tier I capital ratio and total capital ratio standing at 15.8% and 18.6%, respectively.


KUALA LUMPUR, July 1 (Bernama) -- Bank Muamalat Malaysia Berhad announced a 4.6% increase in Profit Before Tax (PBT) for its financial year ended 31st March 2019. PBT grew to RM241.2 million from RM230.5 million recorded in the previous financial year.
 
Dato’ Mohd Redza Shah Abdul Wahid, Chief Executive Officer of Bank Muamalat Malaysia Berhad said, “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.”
 
Total revenue increased from RM1,219.8 million to RM1,333.6 million, largely from higher financing income of RM903.8 million, from the previous financial year’s position of RM886.3 million, which is in line with the expansion of its gross financing base. In addition to this, the increase was also fuelled by higher income in investment securities as well as higher gain recorded in foreign exchange transactions. 

Total gross financing grew to RM15.5 billion as at end of March 2019, from RM14.9 billion a year ago. At the same time, asset quality, as measured by gross impairment ratio, continued to improve from 1.92% recorded in the previous corresponding period to 1.43%. 

“These improvements are the results of our constant effort on prudent recovery, credit risk management initiatives and better quality financing base expansion”, added Dato Mohd Redza Shah Abdul Wahid.
 
The Bank’s capital position remained healthy with Tier I capital ratio and total capital ratio standing at 15.8% and 18.6%, respectively.
 
Bank Muamalat Malaysia Berhad is also actively endeavoring to further strengthen its business in the gold and investment account as well as to concentrate more on digitalization in keeping up with current market demands. Further underlining its commitment to be recognised as a value-based bank, there will also be continuous efforts in ensuring the Bank’s overall strategies contribute to a positive impact to the society and the environment. 
 
Please refer to the financial report for further details, which is available online in the Corporate Overview section at www.muamalat.com.my 

About Bank Muamalat Malaysia Berhad
 
Bank Muamalat is a leading Islamic bank, established on 1 October 1999, and is governed by Islamic Financial Services Act 2013 (IFSA). As a full-fledged Islamic financial institution, the bank offers its customers a broad range of services, meeting the needs of both individuals and institutions.
 
In essence, Bank Muamalat provides individuals with services ranging from deposit accounts, asset management, financing needs for automobiles, homes and personal use as well as wealth management products such as family and general takaful, investments, Islamic estate planning to non-financial products such as Islamic funeral management, Quranic learning and halal tours. The Bank similarly offers corporate and institutional customers the full product assortment of a leading corporate and investment bank, from cash management, payment solutions including trade and export finance to international foreign exchange, financing and capital market transactions. 
 
Bank Muamalat has presence nationwide via a network 64 branches, in addition to its electronic channel, encompassing i-Muamalat, the Bank’s internet banking solution, and e-Muamalat, available at almost 240 locations, referring to its network of ATMs, CDMs, and CDTs. 
 
Bank Muamalat is a member of the DRB-HICOM Berhad Group where the public listed company owns 70% of the Bank’s shares with the remaining stake held by Khazanah Nasional Berhad, the nation’s investment arm. 
 
Bank Muamalat was officially accepted as a member of GABV on 15th November 2017. Signaling a growing appetite for the values-based banking movement, Bank Muamalat has become the first Islamic bank in the world and the first one in Southeast Asean region to be accepted as a member of Global Alliance for Banking in Values (GABV). 

Issued by Corporate Communications Department of Bank Muamalat Malaysia Berhad. 

Source: Bank Muamalat Malaysia Berhad

FOR MORE INFORMATION, PLEASE CONTACT: 
Name: Puan Saidatul Leiza 
Tel: 011-10615266
Email: leiza@muamalat.com.my

--BERNAMA