Bank Islam - Analyst Briefing - Bank Islam · PDF file¾Bank Islam was incorporated on 1...
Transcript of Bank Islam - Analyst Briefing - Bank Islam · PDF file¾Bank Islam was incorporated on 1...
STRICTLY PRIVATE & CONFIDENTIAL
ANALYSTS BRIEFING
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CORPORATE INFORMATIONCORPORATE INFORMATION
Shareholders Number of Shares Shareholdings
BIMB Holdings Berhad^ 1,155,400,000 51%
Dubai Investment Group 690,196,000 30.5%
Lembaga Tabung Haji 419,894,000 18.5%
Issued Share Capital 2,265,490,000 100%
Bank Islam was incorporated on 1 March 1983 to become Malaysia’s pioneer bank to operate wholly according to Shariah principles
Bank Islam was licensed under Islamic Banking Act 1983
^ Lembaga Tabung Haji (Pilgrimage Funds Board) is deemed as the ultimate controlling shareholder of Bank Islam by virtue of its 51% controlling stake in BIMB Holdings Bhd
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OUR SHAREHOLDERSOUR SHAREHOLDERSLembaga Tabung Haji (18.5%)
Lembaga Tabung Haji (Pilgrim Fund Board) (TH) is a government controlled entity that was established mainly to assist Muslims in saving gradually for the purpose of pilgrimage. TH is highly determined to make each business and investment venture a roaring success domestically and abroad. It has also made an impressive mark in various Islamic investment instruments such as sukuk/bonds, corporate notes, Government Investment Certificates, Mudharabah Bank Account and Bill of Acceptance.
BIMB Holdings Bhd (51%)
BIMB Holdings was incorporated in Malaysia on 20 March 1997 and was listed on the Main Board of Kuala Lumpur Stock Exchange (now Bursa Malaysia) on 16 September in the same year. The core subsidiaries of BIMB Holdings are leaders and pioneers of various Islamic financial services in the region, namely Bank Islam Malaysia Berhad, Syarikat Takaful Malaysia Berhad, ASEAN Retakaful International (L)
Dubai Banking Group (30.5%)Pursuant to the internal restructuring of Dubai Financial LLC and Dubai Islamic Investment Group, the 40% equity interest of
Bank Islam was transferred to Dubai Banking Group (DBG), a special vehicle of Dubai Group to develop and grow Shari'ah compliant businesses and brands on a global scale through significant and direct acquisitions and by building strategic alliances with valued local partners around the world as well as to generate exceptional returns and long‐term growth, leading to creation of sustainable shareholder value. From its headquarters in Dubai, DBG focuses on identifying anchor investment opportunities in its selected markets. Its current investment portfolio includes: 100% ownership of Dubai Bank, 51% stake in Al Fajer Re‐Takaful, 16.66% stake in National Bonds UAE, the national Shari'ah‐compliant saving scheme and 40% stake in ACR Re‐Takaful Holdings Limited, the world's largest reinsurance company
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CORPORATE STRUCTURECORPORATE STRUCTURE
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GOVERNANCE STRUCTURE GOVERNANCE STRUCTURE
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MANAGING DIRECTORMANAGING DIRECTOR
DATO’ SRI ZUKRI SAMAT
FINANCECONSUMER BANKING
CHIEF INTERNAL AUDIT
CHIEF RISK CHIEF RISK OFFICEROFFICER
COMMERCIAL BANKING
TREASURY
CORPORATE COMMUNICATIONS
LEGAL & SECRETARIAL
CHIEF FINANCIAL CHIEF FINANCIAL OFFICEROFFICER
GENERAL ADMINISTRATION
VALUATION
CORPORATE INVESTMENTBANKING
ORGANIZATION CHARTORGANIZATION CHART
CORPORATECORPORATESERVICESSERVICES
HUMAN HUMAN RESOURCESRESOURCES
BUSINESSBUSINESS
INFORMATIONTECHNOLOGY
PROGRAM MANAGEMENTOFFICE
CHIEF TECHNOLOGYCHIEF TECHNOLOGYOFFICER OFFICER
MDMD’’S OFFICES OFFICE SHARIAH SHARIAH
RECOVERY & REHABILITATION
CHIEF BUSINESS SUPPORT OFFICER
TRANSACTION SERVICES
BRANCH OPERATIONS
CREDITADMINISTRATION
CHANNEL STRATEGY& DEVELOPMENT
CASH & TRADE MANAGEMENT
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““To be the Global Leader in Islamic To be the Global Leader in Islamic BankingBanking””
““Global LeaderGlobal Leader”” is defined as being the ultimate guidance is defined as being the ultimate guidance and source of reference for innovative Shariahand source of reference for innovative Shariah--based based
products & servicesproducts & services
VISION STATEMENTVISION STATEMENT
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To continually develop and innovate universally accepted financiTo continually develop and innovate universally accepted financial solutions in al solutions in line with Shariah Principlesline with Shariah Principles
To provide a reasonable and sustainable return to shareholdersTo provide a reasonable and sustainable return to shareholders
To provide for a conducive working environment and to become an To provide for a conducive working environment and to become an Employer of Employer of Choice for top talents in the marketChoice for top talents in the market
To deliver comprehensive financial solutions of global standardsTo deliver comprehensive financial solutions of global standards using stateusing state--ofof--thethe--art technologyart technology
To be a responsible and prudent corporate citizenTo be a responsible and prudent corporate citizen
In the performance of this corporate mission Bank Islam shall beIn the performance of this corporate mission Bank Islam shall be guided by its guided by its corporate brand values of being: A Leader, Dynamic, Professionalcorporate brand values of being: A Leader, Dynamic, Professional, Caring and , Caring and TrustworthyTrustworthy
MISSION STATEMENTMISSION STATEMENT
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STRENGTHSSTRENGTHS
Being a pioneer, Bank Islam remains as Malaysia’s Islamic banking icon.
Capitalizing on a strong brand equity, Bank Islam positions itself as a “true‐blue Islamic bank”and “Most Trusted Brand” ‐ A value proposition that is premised on trust and reliability.
Backing of Tabung Haji (TH). Leveraging business relationship and operational synergistic.
Liquid balance sheet and sizeable portion of low‐cost deposits.
Competent and highly experienced Senior Management team, forward‐looking and passionate about transforming Bank Islam into “a global leader in Islamic banking “.
Healthy Risk Weighted Capital Ratio (RWCR) and increased capital strength.
Formidable ties with the Federal Govt and its ministries/agencies, Government‐linked companies (GLCs) and other public sector entities such as universities, State Govts and their agencies, local councils, etc.
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1
10
5
8
17
145
3
11
8
105
4
5
WP Labuan
1
LOCATION BY REGION TOTAL
Central 31
Northern 24
Southern 19
Eastern 23
East Malaysia 10
Total 107
BRANCH NETWORKBRANCH NETWORK
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NEW & REMODELLED BRANCHESNEW & REMODELLED BRANCHES
BDC Karamunsing, Sabah Consumer Business Center, Padang Garong,
Kelantan
Putra Heights, SelangorKota Damansara, Selangor
Saujana Utama, Selangor Karamunsing, SabahWangsa Maju, KL
Alor Setar II, KedahPutra Square, Pahang
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KEY HIGHLIGHTSKEY HIGHLIGHTS
Record profit before tax of RM313 mil, historical high, due to improved contribution across all key business segments.
Financing portfolio grew 16.8% YoY.
Asset quality continued to improve with net NPF ratio declining to 3.2% from 6.7% a year ago based on 3‐months classification.
Capitalization remains strong with tier‐1 and overall risk‐weighted capital ratio of a respective 15.6% and 16.7%, which were higher than the banking industry’s averages.
Return of Equity of 16.2% which exceeds Bank Islam’s Headline KPI as well as industry average.
The Bank’s current and savings deposits account for 37.1% of the Bank’s total deposits, higher than industry average of 23.8%.
Higher operating expenses were incidental to business expansion and growing financing portfolio.
Paid 4% dividend to CRNCPS‐i holders on 30 August 2010 .
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KEY FINANCIAL INDICATORSKEY FINANCIAL INDICATORS
@ Commencing December 2009, NPF is based on 3 months classification. Audit FY June 2009 has been restated to reflect 3 monthsclassification
^ Annualised* Bank Negara Malaysia Annual Report 2009 # Bank Negara Malaysia Monthly Statistical Bulletin @ March‘10
Audited FY June 05
Audited FY June 06
AuditedFY June 07
AuditedFY June 08
Audited FY June 09
AuditedJune 10
IslamicBanking System
Banking System
PROFITABILITY
Return on Equity (%) N/A N/A 23.3% 26.5% 16.5% 16.2% ^ 13.9% * 13.9% *
Return on Assets (%) N/A N/A 1.4% 1.5% 0.9% 1.1% ^ 1.3% * 1.2% *
Cost Income Ratio (%) 63.3% 65.4% 68.2% 60.8% 56.7% 56.0% 42.9% * 48.4% *
Non‐Fund Based Income Ratio (%) 12.3% 9.4% 9.0% 7.8% 10.3% 10.5% 9.0% * 18.3% *
Net NPF Ratio (%) 12.6% 9.2% 11.4% 7.8% 6.7% 3.2% @ 2.1% # 1.8% #
Financing Loss Coverage Ratio (%)
55.3% 74.8% 67.7% 75.8% 80.8% 81.6% @ 85.2% # 95.9% #
Financing to Deposit (%) 74.5% 71.3% 55.9% 50.4% 42.5% 45.0% 73.5% # 75.4% #
RWCR / CAFIB (%) 9.1% (3.0%) 12.0% 12.9% 13.6% 16.7% 14.8% # 14.9% #
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TOTAL REVENUETOTAL REVENUE
885.0 949.5
1,010.5
1,152.0
1,267.1 1,358.9
‐
200.0
400.0
600.0
800.0
1,000.0
1,200.0
1,400.0
1,600.0
June‐05 June‐06 June‐07 June‐08 June‐09 June‐10
RM million
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PROFIT BEFORE ZAKAT AND TAXPROFIT BEFORE ZAKAT AND TAX
(479.8)
(1,288.3)
236.7 308.3
233.1 313.0
(1,400.0)
(1,200.0)
(1,000.0)
(800.0)
(600.0)
(400.0)
(200.0)
0.0
200.0
400.0
June‐05 June‐06 June‐07 June‐08 June‐09 June‐10
RM million
…surpassed Jun-08
historical high
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PROFIT BEFORE PROVISIONS PROFIT BEFORE PROVISIONS –– OPERATING PROFITSOPERATING PROFITS
226.3 202.9
218.6 280.2
359.2
429.7
‐
50.0
100.0
150.0
200.0
250.0
300.0
350.0
400.0
450.0
500.0
June‐05 June‐06 June‐07 June‐08 June‐09 June‐10
RM million
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TOTAL ASSETS AND CUSTOMER DEPOSITSTOTAL ASSETS AND CUSTOMER DEPOSITS
15.8 14.6
19.1
23.6
27.5
30.3
13.5 14.4
17.6
20.8
25.2 26.7
‐
5.0
10.0
15.0
20.0
25.0
30.0
35.0
June‐05 June‐06 June‐07 June‐08 June‐09 June‐10
RM billion
Total Assets Deposits from Customers
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NET FINANCINGNET FINANCING
Overall Financing growth of 16.8% (June 2006 vs June 2010)
RM’M
illio
n 11,2
84
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ASSET QUALITY TRENDASSET QUALITY TREND
Summarized below Total Bank NPF on 6‐months classification:
RM’M
illio
n
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BETTER ASSET QUALITYBETTER ASSET QUALITY
%As at
Jun 2010As at
Jun 2009 Decrease
Gross NPF Ratio 7.65 14.34 6.69
Net NPF Ratio 3.24 6.74 3.50
Changed from 6 months to 3 months classification in December 2009
Based on 3 months classification
VolumeAs at
Jun 2010As at
Jun 2009
Decrease
Amount %
Gross NPF Ratio 918,011 1,534,951 (616,940) (40.2)
Net NPF Ratio 371,293 663,062 (291,769) (44.0)
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SUSTAINING STRONG ASSET QUALITYSUSTAINING STRONG ASSET QUALITY
Focus on lower risk sectors.
Sounds underwriting standards with frequent calibration to reflect market behavior.
Strong credit risk culture and oversight function.
For mortgages and business premise financing, focus on location…location…location
Focus on lower risk customer segments:‐
Female
Package Employers
Program financing (Doctors, Bankers, etc)
Middle & Affluent market segments
Collection….collection & collection
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KEY BALANCE SHEET ITEMSKEY BALANCE SHEET ITEMS
RM MillionAudited
FY June 05Audited
FY June 06Audited
FY June 07Audited
FY June 08Audited
FY June 09Actual June
2010
Assets 15,849 14,598 19,091 23,559 27,488 30,335
Growth (%) 22% (8%) 31% 23% 17% 10.4%
Net Financing 9,169 8,643 8,472 9,061 9,662 11,284
Growth (%) 20% (6%) (2%) 7% 7% 16.8%
Treasury Assets 5,962 5,333 10,025 13,785 17,347 18,623
Growth (%) 28% (11%) 88% 37% 26% 7.4%
Deposits 13,483 14,443 17,617 20,763 25,212 27,062
Growth (%) 20% 7% 22% 18% 21% 7.3%
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CUSTOMER BASECUSTOMER BASE
1,736
2,010
2,323 2,643
3,769
‐
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
June‐06 June‐07 June‐08 June‐09 June‐10
RM million
“Customer base has grown by 117% since the implementation of the Turnaround Plan. As at end‐June 2010, we count 3.8 million customers. We have remodeled 67 branches and have opened 11 new branches”
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RWCR / CAFIBRWCR / CAFIB
9.1%
‐3.0%
12.0%12.9%
13.6%
16.7%
‐5.0%
0.0%
5.0%
10.0%
15.0%
20.0%
June‐05 June‐06 June‐07 June‐08 June‐09 June‐10
…Robust Capital Adequacy
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CORE BUSINESS CORE BUSINESS
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KEY BUSINESS DIRECTIONKEY BUSINESS DIRECTION
Business composition – Retail (70%) : Business (30%)
Consumer banking to remain as our key growth driver, focusing on high yielding assets such as personal financing, with a calculated risk ‐ direct deduction from source. House financing (with good profile, ticket size and location) shall continue as our main thrust to build sustainable long term asset portfolio.
Commercial banking to focus on secured financing via business premises financing program. Special attention to be given on driving utilization from existing emerging local corporate with strong credit profile and from existing contract financing clients with good performance record.
Corporate banking will continue to originate and participate in syndication facility as well as focusing on non‐fund based income such as sukuk, corporate finance and advisory deals, etc. The Bank also aims to enhance on wallet seizing and strengthen relationships with top‐tier Malaysian GLCs. Term financing to spearhead future growth.
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KEY BUSINESS DIRECTIONKEY BUSINESS DIRECTION……contcont
Cash Management to cross sell its offering to existing reputable clients of Corporate, Commercial and Consumer banking (i.e. tapping our Package Employers)
Treasury to enhance our portfolio return and ensure competitive funding profile of the Bank. The bank seeks to expand client‐related FX business. Treasury shall continue to manage asset‐liability gap, profit rate risk as well as displaced commercial risk within the Bank’s prescribed risk appetite.
Branches will act as spear‐point to garner CASA.
Robust collection strategy is critical to success especially for retail business portfolio.
Key emphasis to drive down cost‐to‐income ratio i.e. via business process re‐engineering
Ar‐Rahnu business as our micro‐financing arm of the Bank.
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1,458.6(20.5%)
- 419.3(-20.3%)
298.3(29%) -46.2
(-9.2%)
RM’M
illio
n
FINANCING GROWTH BY BUSINESS UNITSFINANCING GROWTH BY BUSINESS UNITS
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CONSUMER INITIATIVESCONSUMER INITIATIVES
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RM4.0 billionIjarah Medium Term Notes Programme
Syarikat Prasarana Negara BerhadCo-Manager
RM330.0 millionSyndicated Islamic Financing Facility
Kedah Sato Sdn BhdLead Arranger
RM327.0 millionSyndicated Islamic Financing Facility
Prolintas Expressway Sdn BhdLead Arranger
NOTABLE TRANSACTIONSNOTABLE TRANSACTIONS
USD150.0 million*Syndicated Islamic Financing
Facility
Qatar Airways Q.C.S.C.Arranger
Rights IssueRM540 mil Islamic
Convertible Redeemable Non-Cumulative Preference
Shares (Tier 1- Capital)
2009
Acquisition of 20% equity interest in
Amana Bank Limited, Sri Lanka By Bank Islam Malaysia Bhd
2009
RM668 millionSyndicated Islamic Financing Facility
Ranhill Powertron IILead ArrangerLead Manager
RM70 millionBusiness Financing Facility
Blossom Time Sdn Bhd
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ISLAMIC BANKING LANDSCAPEISLAMIC BANKING LANDSCAPE
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STAND‐ALONE
SUBSIDIARIES OF CONVENTIONAL BANKS
ISLAMIC WINDOWS & DFIs
ISLAMIC BANKING LANDSCAPEISLAMIC BANKING LANDSCAPE
INTERNATIONAL ISLAMIC BANKS
2 Mega Islamic Banks (Paid Up
Capital of US$1 bil) – August 2010
17 Commercial Islamic Banks
5 new Islamic banking licenses ‐
subsidiary of foreign banks
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COMPETITIVENESSCOMPETITIVENESS
ISLAMIC
17.2% 11.7%15.0%10.1%
Total Assetsas at June 2010
RM44.5 billion RM30.3 billionRM39.0 billion RM26.1 billion
Islamic Banking Assets – RM259.36 bil
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COMPETITIVENESSCOMPETITIVENESS
ISLAMIC
16.4% 13.1% 10.6% 7.0%
Deposits as at June2010
RM34.5 billion RM27.5 billion RM22.4 billion RM15.4 billion
Our strength is non reliance on interbank funding (only 3% of deposits)
Islamic Banking Deposits – RM210.39 bil
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SUSTAINABLE GROWTH PLANSUSTAINABLE GROWTH PLANACHIEVEMENTS TOACHIEVEMENTS TO‐‐DATEDATE
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RECOVERY MODERECOVERY MODEMoving out of crisis & return to the black
PHASE 1PHASE 12006 2006 ‐‐ 20072007
STABLE MODESTABLE MODEBuilding solid foundation for a sustainable
growth
PHASE 2PHASE 22008 2008 ‐‐ 20092009
HIGH GROWTH MODEHIGH GROWTH MODEOperational excellence &
market leader
PHASE 3PHASE 32010 2010 ‐‐ OnwardsOnwards
CORPORATE PLAN CORPORATE PLAN –– MOVING FORWARDMOVING FORWARD
TURNAROUND PLAN (JUNE 2006 – JUNE 09)
SUSTAINABLE GROWTH PLAN
1st pillar : Recapitalization & Balance Sheet Restructuring2nd pillar : IT Infrastructure Revamp3rd pillar : Transformation Program4th pillar : Cost Rationalization5th pillar : Human Capital Development
1st pillar: Business innovation2nd pillar: Robust risk management3rd pillar: Strengthening enabling
infrastructure4th pillar : Building capability &
capacity5th pillar: Franchise development6th pillar: Inorganic growth and
corporate expansion
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SUSTAINABLE GROWTH PLAN SUSTAINABLE GROWTH PLAN
Key Strategy Objective Actions
Business Innovation
To continuously develop new financial solutions and product offerings that suit the ever-evolving customer needs and benchmarked to international standards.
Research & Development for product innovation - Mudharabah & Musharakah-based financing- Wakaf development- Ar Rahn business
Innovative product packaging (Competitive pricing with value added proposition)
Robust Risk Management
To build a solid foundation for sustainable revenue generation and high quality asset portfolio as well as efficient capital allocation
Acquiring the right customer at the point of origination
Inculcating credit risk culture – “Know Your Customer”
Addressing operational risk related issues
Strengthening Enabling Infrastructure
To provide an infrastructure that would improve operational efficiency, increase productivity and reduce transactional costs.
Enhancing capability and capacity (core banking system, network infrastructure & Data Center)
Upgrading and simplifying Internet banking
Technology Refresh
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SUSTAINABLE GROWTH PLAN SUSTAINABLE GROWTH PLAN
Key Strategy Objective Actions
Building Capability & Capacity
To attract, retain and build future human capital capabilities, to capture and retain best talents in Islamic finance as well as to ensure that employees are fully equipped with the right knowledge, capability and skills to excel and steer the Bank.
Structured Talent Development Program –“Invest in People”
Leadership Development & Succession Planning
Franchise Development
To establish an extensive network of branches in strategic growth locations, to expand electronic delivery channels that would enhance Bank Islam’s reach to customers as well as brand positioning that would drive business growth and sustain its competitive edges.
115 branches by 2011
“Most Trusted Brand” & “Premier Islamic Bank” – a Global Brand
Enhancing customer experience at all our touch points – Service Excellence
Inorganic Growth & Corporate Expansion
To strengthen Bank Islam’s market presence and stay ahead in an environment of heightened competition; to tap vast opportunities in the South East Asian region as well as countries with high growth potential
Strategic stake & management control
“Close to Home”
Maximize synergistic – remittance business
Knowledge sharing
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SUSTAINABLE GROWTH PLANSUSTAINABLE GROWTH PLAN–– ACHIEVEMENTS @ JUNE 2010ACHIEVEMENTS @ JUNE 2010
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SUSTAINABLE GROWTH PLANSUSTAINABLE GROWTH PLAN–– ACHIEVEMENTS @ JUNE 2010ACHIEVEMENTS @ JUNE 2010
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SUSTAINABLE GROWTH PLANSUSTAINABLE GROWTH PLAN–– ACHIEVEMENTS @ JUNE 2010ACHIEVEMENTS @ JUNE 2010
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SUSTAINABLE GROWTH PLANSUSTAINABLE GROWTH PLAN–– ACHIEVEMENTS @ JUNE 2010ACHIEVEMENTS @ JUNE 2010
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““GROWING OUR OWN TIMBERGROWING OUR OWN TIMBER””
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SUSTAINABLE GROWTH PLANSUSTAINABLE GROWTH PLAN–– ACHIEVEMENTS @ JUNE 2010ACHIEVEMENTS @ JUNE 2010
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INDUSTRY & BRAND RECOGNITIONSINDUSTRY & BRAND RECOGNITIONS
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SUSTAINABLE GROWTH PLANSUSTAINABLE GROWTH PLAN–– ACHIEVEMENTS @ JUNE 2010ACHIEVEMENTS @ JUNE 2010
Page 47 Strategic Planning
CORPORATE RESPONSIBILITIES PROGRAM CORPORATE RESPONSIBILITIES PROGRAM
Minggu Matematik UiTM 2009 Awareness Program Malaysia Financial Planning Council (MFPC)
PINTAR National Programme : PINTAR Mobile Unit World of Innovation and Creativity
Minggu Kesedaran Kewangan (M2K) Bank Negara Malaysia
Invention , Innovation & Design Award 2010 ‐ UiTM
Sambutan Maulidur Rasul S.A.W 1431H/2010M –‘Memantapkan Ukhuwah Memperkasa Ummah’
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FINAL REMARKSFINAL REMARKS
Positive out look for 6‐months ending Dec 2010, as pipeline of high yielding consumer assets and corporate activity remains good coupled with steady growth in CASA.
Expected ROE for Dec 2010 of 16. 3% and ROA of 1.1%. Margins expected to be stable
Maintain capital prudence in expectation of Basel III and in compliance with new financial reporting standard (FRS 139).
Now focused on strengthening our core business, leveraging on cross selling and synergistic relationship with Lembaga Tabung Haji.
Net NPF ratio getting closer to industry average.
Significant emphasis on branch expansion, operational improvements and sustainability of franchise value.
Continuous investment in people, technology and process, with efforts to improve efficiency and productivity.
Promote innovation, service excellent and competitive offering.
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Q & A SESSIONQ & A SESSION
Page 50 Strategic Planning
“Bank Islam wishes to register its appreciation to all its stakeholders especially regulators, shareholders and customers for their unwavering commitment and continuous support especially in
transforming Bank Islam into a viable, sound, adequately capitalized and competitive banking institution, in line with its
vision to become a “global leader in Islamic banking”.
Bank Islam seeks the recognition as an integrated financial solutions provider with a panoply of innovative Shariah-based
financial products & services that respond to customer needs andrequirements.”
شكراشكراوالسالوالسالجزيالجزيال
مم