Bank Muamalat records PBZT of RM306.7mil for FY22


Bank Muamalat president and chief executive officer Khairul Kamarudin

KUALA LUMPUR: Bank Muamalat Malaysia Bhd registered a profit before zakat and taxation (PBZT) of RM306.7 million for the financial year ending Dec 31, 2022 (FY2022).

The amount represents a growth of 20.3 per cent from the RM254.9 million posted in the previous corresponding period, the bank said in a statement today.

President and chief executive officer Khairul Kamarudin said the stellar performance was largely driven by increased distributable income and robust financing growth in tandem with the group’s business growth and improved asset quality.

"The group also registered growth in total assets which expanded by 14.4 per cent to RM31.5 billion, as compared to RM27.6 billion in the previous financial year.

"This was largely contributed by the 16.2 per cent growth or RM3.3 billion increase in total financing to customers, from RM20.7 billion to RM24.0 billion, mainly from the consumer banking segment,” he said.

Khairul, however, said the group asset quality remained low, with gross impaired financing standing at 0.85 per cent as at Dec 31, 2022, a marginal increase as compared to 0.83 per cent registered as at Dec 31, 2021.

He also said that the group’s common equity tier-1 ratio and total capital ratio remained stable, closing at 12.5 per cent and 17.6 per cent, respectively, well above regulatory requirements.

Going forward, the bank said it remains cognizant of the evolving economic outlook this year and is ready to navigate challenges to record another important milestone in the new financial year 2023. - Bernama

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Bank Muamalat , growth , Khairul Kamarudin

   

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