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BUSINESS

Bank Muamalat announces RM256.6 mln PBZT for FY2021

28/04/2022 11:54 AM

KUALA LUMPUR, April 28 (Bernama) -- Bank Muamalat Malaysia Bhd’s (Bank Muamalat) profit before zakat and taxation (PBZT) has surged 46.8 per cent to RM256.6 million for the financial year ended Dec 31, 2021 (FY2021), from RM174.8 million in FY2020.

President and chief executive officer Khairul Kamarudin said that the stellar performance registered in FY2021 was largely driven by increased total income, strong financing growth and improved asset quality.

“Bank Muamalat has remained resilient during the challenging period, despite the risks arising from the resurgence of the COVID-19 pandemic and restrictions which impacted business operations for most of last year.

“The tightening of the COVID-19 lockdowns affected individuals and businesses alike; nevertheless, the bank had continued to assist customers facing financial constraints,” he said in a statement, today.

Khairul said the group had also registered a seven per cent growth in total assets to RM27.6 billion compared to RM25.8 billion in FY2020.

“This was largely contributed by the 14.46 per cent year-on-year growth in total gross financing to customers, which rose to RM20.9 billion in FY2021 from RM18.2 billion in FY2020, mainly from the consumer banking segment,” he said.

He added that the group’s Common Equity Tier-1 Ratio and Total Capital Ratio remained stable and closed at 13.71 per cent and 17.35 per cent, respectively.

Bank Muamalat has also continued to improve its asset quality, with Gross Impaired Financing at 0.83 per cent as at Dec 31, 2021, compared to 1.07 per cent as at Dec 31, 2020.

Khairul also credited the high COVID-19 vaccination rate in Malaysia, noting that the speedy rollout of booster doses had paved the way for the return to normalcy.

“After weathering the pandemic on strong footing, Bank Muamalat anticipates a better performance for 2022, arising from the positive momentum in 2021, coupled with enhanced digital and technology capabilities,“ he added.

-- BERNAMA

 

 


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