BIMB posts RM553.05mil net profit in FY23 on higher net income

KUALA LUMPUR: Bank Islam Malaysia Bhd’s (BIMB) net profit increased to RM553.05 million in the financial year ended Dec 31, 2023 (FY2023), from RM491.67 million in FY2022 on the back of higher net income.

Revenue surged to RM4.53 billion in FY2022 from RM3.58 billion previously.

"The increase in the group’s net income was mainly due to higher non-fund-based income, which improved by RM175.5 million or 75.9 per cent.

"This was, however, offset by lower net fund-based income which decreased by RM8.3 million or 0.4 per cent due to higher income attributable to depositors and investment account holders,” the banking group said in a filing to Bursa Malaysia today.

BIMB has declared an all-cash second interim dividend of 4.22 sen per share payable on April 5, 2024, bringing its total annual dividend to 16.81 sen per share. - Bernama

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