MalaysianUpdates

Tag: #FinancialGrowth

  • Pertama Digital Berhad – Announcement to Investors

    Pertama Digital Berhad (“Pertama Digital”) has provided an update to shareholders and investors following Bursa Malaysia’s notification that the Company’s counter will be suspended from trading starting 14 November 2025, pending a decision on its application for a four-month extension to submit its regularisation plan. The Board and Management emphasized that this extension request, filed on 31 October 2025 through Principal Adviser M&A Securities Sdn Bhd, is a proactive measure to ensure accuracy, compliance, and completeness in finalising the plan. Pertama Digital is in the final stages of completing due diligence, valuation, and validation for the proposed acquisitions of D-Ron Singapore Pte Ltd and D-Ron Malaysia Sdn Bhd, which form the cornerstone of its regularisation strategy.

    The Company highlighted that these acquisitions, which involve an 80% stake in each entity, are expected to expand core capabilities, enhance recurring income, and strengthen operational resilience, with a profit guarantee of RM32.4 million collectively for FY2025 and FY2026. Alongside these key acquisitions, Pertama Digital continues to drive digital initiatives such as e-Jamin, KOCEK Pintar, BizKecil, and Omnichannel Government Communications, furthering public-sector digitalisation, financial literacy, and cybersecurity adoption nationwide.

    Management reassured stakeholders that substantial progress has been achieved across all critical workstreams, including advisory and due diligence processes, and that the regularisation plan is on track to be submitted within the requested extension period. The Company also reinforced its commitment to strengthening governance, operational resilience, and long-term shareholder value. Both CEO Lim Nasrul Halim and Chairman Tun Dato’ Seri Zaki bin Tun Azmi highlighted that the fundamentals of Pertama Digital remain strong, grounded in providing secure, citizen-centric digital solutions, and that shareholders should take confidence in the tangible progress and ongoing initiatives driving sustainable growth. Pertama Digital will continue to provide timely updates to Bursa Malaysia regarding the completion of acquisitions, development of digital initiatives, and submission of its regularisation plan.

  • Solid Growth: Bank Islam Group Records RM571.1 Million Net Profit in FY2024

    Solid Growth: Bank Islam Group Records RM571.1 Million Net Profit in FY2024

    Bank Islam Malaysia Berhad (Bank Islam or the Group) closed FY2024 on a positive note, recording a net profit of RM571.1 million, reflecting a 3.3% growth from the previous year. Earnings per Share rose to 25.20 sen, while the net Return on Equity stood at 7.6%. The profit increase was driven by stronger net income and a substantial reduction in net allowance for impairment on financing, reinforcing the Group’s financial stability.

    The Group’s net fund-based income expanded by 5.1% to RM2.2 billion, supported by y-o-y investment securities and financing growth. Its net income margin (NIM) improved to 2.13%, and fee and commission income increased by 11.2%. A 46.0% reduction in net allowance for impairment on financing and advances lowered financing credit cost to 0.14%, down from 0.26% in FY2023. Bank Islam’s gross impaired financing ratio remained strong at 1.06%, well below the industry benchmark of 1.44%.

    In line with its commitment to shareholder value, Bank Islam declared a second interim single-tier dividend of 4.12 sen per share, bringing total dividends for the year to 15.12 sen per share. The Group’s total assets expanded to RM96.8 billion, marking a 6.4% y-o-y increase, supported by steady investment securities and financing growth. Consumer financing grew by 6.3%, and commercial financing by 6.7%, although corporate financing declined slightly, leading to an overall 3.8% y-o-y increase in gross financing to RM70.2 billion. Meanwhile, customer deposits and investment accounts saw a 6.4% y-o-y increase to RM80.9 billion, with CASATIA contributing 39.7% to total deposits.

    A major highlight of 2024 was Bank Islam’s ongoing digital transformation, marked by the successful launch of BIMB Mobile and BIMB Web in November. These advanced banking platforms offer seamless, branchless banking solutions with enhanced security and usability. To date, nearly one million customers have migrated to these new platforms, solidifying the Group’s progress in digital banking.

    Bank Islam Group Chief Executive Officer, Dato’ Mohd Muazzam Mohamed, highlighted the significance of digital innovation in Islamic banking. “We are actively integrating technology into our services to drive customer-centric solutions, strengthen security, and remain ahead of industry trends,” he said.

    Moving into 2025, Bank Islam is set to enhance its growth by focusing on cost efficiency, business expansion, and strategic digital investments. Key areas of focus include strengthening Wealth Management, Ar-Rahnu, and bureau-de-change services, while enhancing collaboration with BIMB Investment Management Berhad and BIMB Securities Sdn Bhd. Additionally, the Group aims to invest in environmentally sustainable assets, reinforcing its commitment to responsible banking.

    Sustainability remains a key strategic pillar, with Bank Islam planning to mobilize RM28 billion in sustainable financing by 2025. The Group’s initiatives are centered on supporting a low-carbon economy, fostering financial inclusion, and upholding strong governance principles.

    “As we look ahead, we remain committed to innovation, sustainability, and financial prudence. Our strategic initiatives will continue to drive Bank Islam towards a future-ready, Shariah-compliant banking ecosystem,” Mohd Muazzam concluded.