BIMB Q1 Earnings Unchanged at RM153 million

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1. NEWS RELEASE BIMB HOLDINGS BERHAD ACHIEVED RM153 .4 MILLION 03/2015 BOARD OF DIRECTORS’ MEETING PAT FOR THE THREE MONTHS ENDED MARCH 2016 HIGHLIGHTS       The Group’s Profit After Taxation (“PAT”) of RM153.4 million for the three months ended 31 March 2016 remained unchanged compared with corresponding period in 2015 At Bank Islam, PAT rose 3.6% or RM4.5 million to RM127.5 million compared with the corresponding period in 2015. Net financing grew16.9% or RM5.1 billion year-on-year. Gross impaired financing ratio was slightly below 1%. Bank Islam’s capital ratio stayed healthy at 15.2% as at end March 2016. At Takaful Malaysia, PAT was 2.2% higher, at RM45.7 million, compared with the corresponding period in 2015. Kuala Lumpur, 11 May 2016 : BIMB Holdings Berhad (“BHB”) reported a Profit after Taxation (“PAT”) of RM153.4 million for the three months ended 31 March 2016, the same as that achieved in the corresponding period in 2015 in spite of recording net income growth of 9.6% to RM579.6 million. This is mainly due to higher finance cost incurred in the period. Islamic Banking Bank Islam Group (“Bank Islam” or “the Bank”) reported a PAT of RM127.5 million for the three months ended 31 March 2016. This represents an increase of 3.6% or RM4.5 million compared with the corresponding period in 2015, driven by the growth in business activities and the Bank’s ability to sustain sound asset quality. The Bank maintained its financing growth momentum with net financing assets recording a commendable year-on-year growth of 16.9% or RM5.1 billion to reach RM35.2 billion as at 31 March 2016. With the Bank’s continued effort in managing its credit risk, it was able to maintain its strong asset quality. The Bank’s gross impaired financing ratio improved to 0.94% as at end March 2016 from 1.09% recorded as at end December 2015. The Group’s customer deposits decreased 2.2% or RM0.9 billion year-on-year to reach RM40.6 billion as at 31 March 2016. However, the current and savings accounts (CASA) reported a year-on-year growth of 0.8% or RM0.1 billion. The CASA ratio as at end March 2016 stood at 36.8% compared with 35.1% as at end December 2015. The Bank’s capital position remained healthy to support the continuous business growth with the Risk Weighted Capital Adequacy ratio of 15.2% as at end March 2016. 1
2. Economic headwinds will continue to pose challenges for the rest of the year . Despite the challenging environment, the Bank plans to sustain business momentum by leveraging on the strength of its business model with increased emphasis on prudent practices. Bank Islam will continue to focus on risk management particularly on improving its financing portfolio and maintaining sound asset quality. The Bank also intends to continue capitalising on the new opportunities such as those presented by the introduction of the investment account framework under the Islamic Financial Services Act, 2013. With these strategies in place, the Bank strives to ensure quality of service delivery is not compromised amid cost rationalisation measures. Takaful For the three months ended 31 March 2016, Takaful Malaysia Group (“Takaful Malaysia”) registered a PAT of RM46.4 million, an increase of 0.2% or RM0.1 million over the same period in 2015. Takaful Malaysia will continue its value proposition of rewarding its customers with 15% Cash Back for General Takaful products and establish a strong foothold in the local insurance and takaful arena as the preferred choice. Through its extensive range of products and services, Takaful Malaysia continues to be the market leader in the Group Family Takaful business. The successful implementation of core initiatives in Operational Excellence, Technology Driven Capabilities, Product Innovation and Performance Oriented Culture will enable Takaful Malaysia to stay ahead of its competitors, increase its overall market shares and continuously improving shareholders’ value. For further information on BHB, please visit www.bimbholdings.com About BIMB Holdings Berhad BIMB Holdings Berhad (“BHB”) is the first Islamic Financial Holding company approved by Bank Negara Malaysia under the Islamic Financial Services Act 2013. BHB was incorporated in Malaysia on 20 March 1997, and was listed on the Main Market of Bursa Malaysia Securities Berhad on 16 September in the same year. The core subsidiaries of the BHB Group are pioneers in various Islamic financial services including banking, takaful, stockbroking, and other related services namely Bank Islam Malaysia Berhad, Syarikat Takaful Malaysia Berhad and BIMB Securities Sdn. Bhd. Issued by : Group Corporate Communications, BIMB Holdings Berhad Enquiries : Wan Norkhairi Wan Samad Head, Group Corporate Communications BIMB Holdings Berhad Tel : +603-2782 1232 Fax : +603-2781 2998 Email : wnorkhairi@bankislam.com.my Omar Atin Media Relations & Editorial, Group Corporate Communications BIMB Holdings Berhad Tel : +603-2781 2943 / +6019-391 9144 Fax : +603-2781 2998 Emaill : omar@bimbholdings.com 2