Malaysia Building Society Bhd achieves pre-tax profit of RM484.7mil ...

KUALA LUMPUR, July 31 ? Malaysia Building Society Bhd (MBSB) achieved a pre-tax profit of RM484.7 million, an increase of 107.9 per cent, for the six months period ended June 30, 2013, from RM233.1 million chalked up the
same period last year.

The improved financial results were mainly due to increased net income from Islamic banking operations.

?The improved financial results were contributed by retail business.

?Nevertheless, our corporate business lending activities have also shown marked improvements with disbursements for the first six months of this year up 42.1 per cent as compared to last year,? said President and Chief Executive Officer Datuk Ahmad Zaini Othman in a statement today.

The strong results also improved the group?s net return on equity of 38.0 per cent, as at June 30, 2013, from 37.6 per cent as at March 31, 2013, respectively.

As at June 30, 2013, net loan advances and financing stood at RM29.2 billion, an increase of 20.2 per cent, compared with RM24.3 billion registered as of Dec 31,2012.

?The group?s non-performing loans ratio stood at 3.2 per cent as at June 30, 2012, from 4.5 per cent recorded on Dec 31, 2012,? he said.

On deposits from customers, Zaini said it stood at RM26.6 billion as at June 30, 2013, up 23.8 per cent, from RM21.5 billion chalked up as of Dec 31, 2012.- BERNAMA

Source: http://news.abnxcess.com/2013/07/malaysia-building-society-bhd-achieves-pre-tax-profit-of-rm484-7mil/?utm_source=rss&utm_medium=rss&utm_campaign=malaysia-building-society-bhd-achieves-pre-tax-profit-of-rm484-7mil

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