KUALA LUMPUR: BIMB Holdings Bhd posted a higher net profit of RM184.61 million for the second quarter (Q2) ended June 30, 2021 from RM153.03 million over the corresponding period in 2020, due to no loss on modification of financial assets charged in the current quarter.
Revenue improved to RM1.25 billion versus the RM1.14 billion while its basic earnings per share rose to 9.12 sen from 8.54 sen.
Commenting on the results, chief executive officer Mohd Muazzam Mohamed said as the world is combatting the COVID-19 pandemic, the group continues to focus on integrating the principles of Shariah, value-based intermediation as well as the environment, social and good governance considerations to remain resilient and promote financial inclusion for all.
"Bank Islam continues to assist the community in making a positive impact on people's lives and livelihood and meeting their needs.
"We provided the repayment assistance programme for our customers to manage their cash flow better during this challenging time.
"We also uplifted our growing affordable micro-finance iTEKAD and BangKIT programmes, as well offered other innovative solutions to generate a more significant impact for the underserved and unbankable target group through the bank’s social finance arm,” he said in a statement today.
Starting with Kuala Lumpur, the iTEKAD programme has since expanded to Perlis and Selangor, benefitting 98 customers with total financing of close to RM1.8 million as at July 31, 2021.
For the BangKIT microfinance initiative, the bank had approved RM1.01 million to 95 customers since its launch on Nov 25, 2020.
As at the end of June 2021, Bank Islam has disbursed and contributed close to RM4.0 million to more than 11,000 individuals and organisations through various initiatives to recipients under the education, health, community empowerment and environment sectors.
Meanwhile, Mohd Muazzam said Takaful Malaysia will continue its strategic initiatives to strengthen its business resilience and adjust its operating models in managing the business in a different market and dynamic operational landscape.
Takaful Malaysia remains vigilant and cautious in managing operating costs, business growth, and portfolio risk, he said. - Bernama