BIMB’s restructuring on track for completion in Q3 of FY21

Bank Islam’s financing growth was still robust at about 10% in FY20 as it enjoyed high demand in the household space.

PETALING JAYA: BIMB Holdings Bhd’s restructuring exercise is still on track for completion by the third quarter (Q3) of financial year 2021 (FY21), barring administrative issues arising from the movement control order (MCO).

This was conveyed by BIMB chief financial officer Azizan Abd Aziz during a recent meeting hosted by Kenanga Research. Post-restructuring, Azizan said the commercial agreements with Syarikat Takaful Malaysia Keluarga Bhd will continue as “BIMB wants to leverage on the existing bancassurance agreements. At present, there are no plans for the bank to develop its own takaful products.”