Bank Muamalat Malaysia Berhad (Bank Muamalat, the Group) registered a record profit before zakat and taxation (PBZT) of RM256.6 million for the financial year ended 31 December 2021, representing a growth of 46.8% from RM174.8 million posted in the previous corresponding period.
Bank Muamalat President and Chief Executive Officer, Khairul Kamarudin said that the stellar performance registered in financial year ended 31 December 2021 was largely driven by increased total income, strong financing growth and improved asset quality.
“Bank Muamalat has remained resilient during the challenging period, despite the risks arising from the resurgence of the COVID-19 pandemic and restrictions which impacted business operations, for most parts of last year.
“The tightening of the Covid-19 lockdowns affected individuals and businesses alike, nevertheless the Bank continued to assist customers facing financial constraints,” he said.
The Group also registered growth in total assets by 7.0% to RM27.6 billion, as compared to RM25.8 billion in the previous financial year.
This was largely contributed by the 14.46% growth or RM2.6 billion increase in total gross financing to customers, from RM18.2 billion to RM20.9 billion, as of 31 December 2021, mainly from the consumer banking segment.
The Group’s Common Equity Tier-1 Ratio and Total Capital Ratio remained stable, closing at 13.71% and 17.35%, respectively; well above regulatory requirements.
Bank Muamalat also continued to improve its asset quality, with Gross Impaired Financing positioned at 0.83% as at 31 December 2021, compared to 1.07% registered as at 31 December 2020.
-NIAGATIMES
