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Bank Islam Posts Higher Profit Before Zakat And Tax Of RM323.8 Million

KUALA LUMPUR, Aug 28 (Bernama) -- Bank Islam Malaysia Bhd has posted a 15 per cent higher profit before zakat and tax of RM323.8 million for the six months ended June 30, 2013.

The bank attributed the stronger performance to overall improvement in business activities.

Bank Islam's return on equity remained strong at 19.8 per cent while return on assets was maintained at 1.7 per cent and risk-weighted capital ratio remained healthy at 13.3 per cent.

During the first half of the year, the bank's total net income increased 10.6 per cent, year-on-year, to RM712.5 million mainly driven by growth in fund-based income, which rose 20.8 per cent, year-on-year.

"As at end-June, customer deposits grew seven per cent to RM34.9 billion of which current and savings accounts amounted to about RM12.7 billion," it said.

On expansion plan, Bank Islam opened three branches since January, bringing the total to 130 currently and it planned to open at least another five branches by year-end.

Moving forward, Managing Director Datuk Seri Zukri Samat said the bank was poised to achieve a 15 per cent earnings growth for the full financial year, notwithstanding the intensely challenging operating environment.

"Towards this end, the bank will continue with its robust risk management and vigilant credit assessment," he added.

-- BERNAMA

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Source: Bank Negara Malaysia


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