BIMB Q3 net profit rises to RM208.38mil

Its Islamic banking arm, Bank Islam, achieved PBZT of RM208.8mil, a decrease of RM16.2mil or 7.2% over the RM225mil a year ago mainly due to higher finance cost and net allowance for impairment on financing and advances, net of recoveries by RM8.5mil and RM8mil respectively.

KUALA LUMPUR: BIMB Holdings Bhd posted firmer financial results for the third quarter ended Sept 30,2019 and for the nine-month period, underpinned by its Islamic banking and takaful subsidiaries.

In a filing with the stock exchange yesterday, the company said its group profit before zakat and tax (PBZT) rose by 7.2% to RM317.8mil from RM296.3mil. Its 3Q operating profit increased by 8.8% to RM386.5mil from RM355.4mil.