Friday, December 9, 2011

BIMB targets return on equity of 16% for 2012

KUALA LUMPUR (Dec 9): BIMB HOLDINGS BHD [] targets to achieve return on equity of 16% for the banking group under its headline key performance indicators for the financial year ending Dec 31, 2012.

In a statement issued to Bursa Malaysia on Friday, BIMB said it was targeting return on assets of 1.5% for FY2012.

'These headline KPIs targets have been set and agreed by the board and management of BIMB group as part of a broader KPIs framework that the group has in place. The headline KPIs targets have been arrived at based on the targeted consolidated financial results of the group for FY2012,' it said.

On the outlook for the banking and financial services sector, BIMB said the uncertainties in the macro economic conditions were expected to be challenging which may affect the sector going forward.

The headline KPIs set by the group reflected its main corporate targets in pursuing sustainable financial results, it said.

BIMB said the announcement of headline KPI targets were under the government-linked companies' transformation programme which were disclosed on a voluntary basis. However, it said the targets should not be construed as forecasts, projections or estimates of the group or representations of any future performance.


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