Kuala Lumpur, November 25 – Malaysia Building Society Berhad revealed its financial performance for the third quarter ended 30 September 2022, posting a profit of RM58.96 million for 3Q22 compared to a loss of RM104.38 million in the same corresponding period previous year.
The Group’s nine-month PAT was RM259.46 million, which was lower than the RM362.32 million recorded in the same period in 2021.
The Group’s PAT was RM58.96 million (3Q22), 58.57% lower than the previous quarter’s RM142.30 million (2Q22). The Group’s total assets amounted to RM51.91 billion (3Q22), an increase of 2.08% as compared to RM50.85 billion (2Q22), due to the financing assets growth.
“Moving forward, MBSB will focus on boosting its total financing growth to increase its asset base and minimise its COF via CASA expansion in order to enhance profitability,” said Group Chief Executive Officer, Datuk Nor Azam M. Taib.
“On the consumer front, the Group anticipates increased demand for property finance in the first nine months of 2022. MBSB also intends to expand its corporate portfolio, with an emphasis on major organisations such as government-linked enterprises and multinational corporations,” he highlighted.
The Group’s Cost to Income Ratio (‘CIR’) rose by 2.32% to 38.82% (3Q22) from 36.50% (2Q22), while Return on Equity (‘ROE’) fell by 0.64% to 4.01% (3Q22) from 4.65% in the previous quarter. Capital Ratio Common Equity Tier -1 (CET-1) is at 20.46% in (3Q22), up from 20.31% in (3Q21).