KUALA LUMPUR (Dec 6): Bank Islam Malaysia Bhd's profit before zakat and tax increased 41.7% to RM341.9 million in the first nine months of FY11, boosted by a better product mix and robust financing growth.
The banking group said on Tuesday that its revenue for 9M11 was up by 12.1% year-on-year (y-o-y) to RM1.2 billion despite a slower expansion rate of 9.4% for fund-based income a year ago.
Net financing growth rose 14.9% y-o-y to RM13.3 billion, while non fund-based income increased 38.1% y-o-y to RM135.6 million for 9M11, it said.
Customer deposits were RM26.1 billion, of which current and savings accounts (CASA) accounted for RM11.2 billion with CASA-to-deposits ratio high at 42.8%.
In a statement Dec 6, Datuk Seri Zukri Samat, managing director, attributed the strong numbers to robust financing growth, better product mix, continued improvement in asset quality as well as increased contributions from non-fund based income and cost containment measures.
Zukri said that recognising the many challenges ahead amidst the impending global slowdown and a host of other downside risks to the operating environment, Bank Islam would continue to remain vigilant in its asset acquisition and conduct prudent, responsible and transparent financing practices through adequate customer affordability evaluations and increased disclosure, all the for the purpose of enhancing consumer protection.
The banking group said on Tuesday that its revenue for 9M11 was up by 12.1% year-on-year (y-o-y) to RM1.2 billion despite a slower expansion rate of 9.4% for fund-based income a year ago.
Net financing growth rose 14.9% y-o-y to RM13.3 billion, while non fund-based income increased 38.1% y-o-y to RM135.6 million for 9M11, it said.
Customer deposits were RM26.1 billion, of which current and savings accounts (CASA) accounted for RM11.2 billion with CASA-to-deposits ratio high at 42.8%.
In a statement Dec 6, Datuk Seri Zukri Samat, managing director, attributed the strong numbers to robust financing growth, better product mix, continued improvement in asset quality as well as increased contributions from non-fund based income and cost containment measures.
Zukri said that recognising the many challenges ahead amidst the impending global slowdown and a host of other downside risks to the operating environment, Bank Islam would continue to remain vigilant in its asset acquisition and conduct prudent, responsible and transparent financing practices through adequate customer affordability evaluations and increased disclosure, all the for the purpose of enhancing consumer protection.
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