MARKET DEVELOPMENT
MBSB Record Highest PBT, Expects To Maintain Strong Performance This Year
MBSB Record Highest PBT, Expects To Maintain Strong Performance This Year
30/01/2013 (Bernama) - Malaysia Building Society Bhd (MBSB), which achieved a 42 per cent increase in pre-tax profit to RM932.3 million last year, the highest in the company's history, expects to maintain its bullish performance this year.
Buoyed by its corporate and retail businesses, the group is optimistic of recording an estimated pre-tax profit of RM1 billion for the financial year ending Dec 31, 2014.
In announcing MBSB's financial results, President and Chief Executive Officer Datuk Ahmad Zaini Othman said group revenue rose to RM2.51 billion in 2013 against RM1.83 billion recorded in 2012.
MBSB declared a total dividend of 10 sen per share for 2013, including an interim dividend of five sen per share declared in the fourth quarter.
As for MBSB's outlook, he said personal financing would continue to be the main contributor to revenue in the retail segment.
MBSB expected loans growth to improve to 12 per cent this year from 10 per cent registered in 2012, he told a press conference here Wednesday.
"We hope to sustain the momentum and meet the expectation of regulators, central bank, customers and shareholders," said Ahmad Zaini.
The group also plans to expand its corporate business segment.
"We are now intensifying our focus on corporate business financing and have outlined strategies to drive this segment forward," he said, adding that MBSB planned to grow its corporate loans to 40 per cent in two years from the current 20 per cent by diversifying its product line.
Ahmad Zaini said MBSB would launch a palm oil plantation financing programme by the second quarter and was also targeting the property and oil and gas sectors in an effort to boost its corporate loan growth.
The financial services provider is in talks with clients in Sabah and Sarawak on the palm oil financing programme and expects to ink a deal by April.
As for the group's net non-performing loans (NPL), he said it continued to decrease from 4.5 per cent, as at Dec 31, 2012, to 3.4 per cent as at Dec 31, 2013.
"The declining trend in the group's NPL is the result of the company's persistent efforts in reaching settlement agreements for the remaining legacy corporate accounts and was also a strong indication of prudent asset management.
The group's revenue rose to RM2.51 billion for the period under review from RM1.83 billion recorded in 2012 while earnings per share jumped to 37.07 sen from 21.64 sen previously.
MBSB declared a total dividend of 10 sen per share for last year which included an interim dividend of five sen per share declared in the fourth quarter.
Buoyed by its corporate and retail businesses, the group is optimistic of recording an estimated pre-tax profit of RM1 billion for the financial year ending Dec 31, 2014.
In announcing MBSB's financial results, President and Chief Executive Officer Datuk Ahmad Zaini Othman said group revenue rose to RM2.51 billion in 2013 against RM1.83 billion recorded in 2012.
MBSB declared a total dividend of 10 sen per share for 2013, including an interim dividend of five sen per share declared in the fourth quarter.
As for MBSB's outlook, he said personal financing would continue to be the main contributor to revenue in the retail segment.
MBSB expected loans growth to improve to 12 per cent this year from 10 per cent registered in 2012, he told a press conference here Wednesday.
"We hope to sustain the momentum and meet the expectation of regulators, central bank, customers and shareholders," said Ahmad Zaini.
The group also plans to expand its corporate business segment.
"We are now intensifying our focus on corporate business financing and have outlined strategies to drive this segment forward," he said, adding that MBSB planned to grow its corporate loans to 40 per cent in two years from the current 20 per cent by diversifying its product line.
Ahmad Zaini said MBSB would launch a palm oil plantation financing programme by the second quarter and was also targeting the property and oil and gas sectors in an effort to boost its corporate loan growth.
The financial services provider is in talks with clients in Sabah and Sarawak on the palm oil financing programme and expects to ink a deal by April.
As for the group's net non-performing loans (NPL), he said it continued to decrease from 4.5 per cent, as at Dec 31, 2012, to 3.4 per cent as at Dec 31, 2013.
"The declining trend in the group's NPL is the result of the company's persistent efforts in reaching settlement agreements for the remaining legacy corporate accounts and was also a strong indication of prudent asset management.
The group's revenue rose to RM2.51 billion for the period under review from RM1.83 billion recorded in 2012 while earnings per share jumped to 37.07 sen from 21.64 sen previously.
MBSB declared a total dividend of 10 sen per share for last year which included an interim dividend of five sen per share declared in the fourth quarter.