Kuala Lumpur, 2 July 2019 – 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.
The total Revenue increased largely from higher financing income and income in investment securities which in line with the expansion of its gross financing base and higher gain recorded in foreign exchange transaction.
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”, said Chief Executive Officer of Bank Muamalat Malaysia Berhad, Dato Mohd Redza Shah Abdul Wahid.
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.
The capital remained healthy with Tier I capital ratio and total capital ratio standing at 15.8% and 18.6%, respectively.
Further underlining its commitment to be recognized as a value-based bank, there will also be continuous efforts in ensuring the Bank’s overall strategies contribute to a positive impact on 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