BIMB Holdings Bhd (BHB)'s profit before tax and zakat (PBZT) rose 47 per cent to RM399.8 million for the nine months ended Sept 30, 2011.
In a statement today, group managing director/chief executive officer Johan Abdullah said the higher profitability was mainly due to higher operating results reported by the group's main subsidiaries, Bank Islam Malaysia Bhd and Syarikat Takaful Malaysia Bhd Group (STMB).
Bank Islam recorded a PBZT of RM342 million, up 42 per cent from the same period last year, against a revenue of RM1.2 billion.
Meanwhile, Syarikat Takaful posted an operating revenue of RM1,045.1 million comprising RM892.5 million in gross contribution and RM152.6 million in investment income.
On prospects, Johan said the group would continue to leverage on Bank Islam's strong Islamic branding and competitive position to sustain core retail financing and deposit-investment businesses while Syarikat Takaful was expected to increase its market share by introducing new products, increasing agency workforce and strategic tie-ups with Islamic banks to market its banca takaful products.
Meanwhile, BHB also announced the adoption of a dividend pay-out policy of at least 50 per cent of the company's net profit attributable to shareholders.
It explained that the move was necessary to retain adequate reserves for future growth. -- Bernama
In a statement today, group managing director/chief executive officer Johan Abdullah said the higher profitability was mainly due to higher operating results reported by the group's main subsidiaries, Bank Islam Malaysia Bhd and Syarikat Takaful Malaysia Bhd Group (STMB).
Bank Islam recorded a PBZT of RM342 million, up 42 per cent from the same period last year, against a revenue of RM1.2 billion.
Meanwhile, Syarikat Takaful posted an operating revenue of RM1,045.1 million comprising RM892.5 million in gross contribution and RM152.6 million in investment income.
On prospects, Johan said the group would continue to leverage on Bank Islam's strong Islamic branding and competitive position to sustain core retail financing and deposit-investment businesses while Syarikat Takaful was expected to increase its market share by introducing new products, increasing agency workforce and strategic tie-ups with Islamic banks to market its banca takaful products.
Meanwhile, BHB also announced the adoption of a dividend pay-out policy of at least 50 per cent of the company's net profit attributable to shareholders.
It explained that the move was necessary to retain adequate reserves for future growth. -- Bernama
