MBSB to continue closing the gap

Going for it: Ahmad Zaini (left) and chief financial officer Tang Yow Sai sharing a light moment after the AGM and EGM. Ahmad Zaini says there are certain sacrifices the company has to make for the betterment of MBSB.

KUALA LUMPUR: Malaysia Building Society Bhd (MBSB) will continue to bite the bullet with its estimated RM1.6bil impairment programme to “close the gap” towards becoming a full-fledged banking institution.

MBSB chief executive officer, Datuk Ahmad Zaini Othman, said the “positive part” about the programme was that it had pushed the group’s loan coverage ratio up to 92% from 77%.