As at end FY18, BHB registered a return on equity (ROE) of 15.4 per cent (after tax and zakat).
Consequently, net assets per share also improved to RM2.97 compared to RM2.77 as at end FY17.
Bank Islam achieved a Profit Before Zakat and Taxation (PBZT) of RM810.3 million for FY18, an increase of 5.6 per cent from RM767.1 million previously, due to higher total income.
Meanwhile, Takaful Malaysia recorded PBZT of RM337.0 million, up 32.9 per cent as compared to RM253.7 million previously.
The improvement in profit was mainly attributable to higher net wakalah fee income arising from business growth in the family and general takaful business, partially offset by fair value losses.
The bank’s strategic plan for the next three years is to deliver sustainable performance with a strategic focus to support economy, community and environment.
On the Takaful industry, BHB expects it to outperform the conventional insurers in view of the strong demand in the Takaful products.
“Takaful Malaysia is poised to further expand its market share in 2019.
“To sustain its market leading position, Takaful Malaysia will continue with its innovative strategies via the implementation of its digital strategy, introduction of online solutions, expansion of its distribution capabilities, strategic partnerships with leading Islamic banks and brand awareness initiatives,” it said in a filing with Bursa Malaysia today. — Bernama
Source: The Malay Mail Online