Latest news with #BankIslamMalaysiaBhd
New Straits Times
06-06-2025
- Business
- New Straits Times
Bursa Malaysia appoints Bank Islam's Azizan Abd Aziz as new CFO
KUALA LUMPUR: Bursa Malaysia Bhd has appointed Azizan Abd Aziz as its new Chief Financial Officer (CFO), effective Aug 1, 2025, following the resignation of Rosidah Baharom last month. Azizan joins the exchange from Bank Islam Malaysia Bhd, where he has served as CFO since May 2019 and was later promoted to Group CFO following the Islamic bank's listing in October 2021. In a filing to Bursa Malaysia today, Bank Islam confirmed that Azizan has stepped down to pursue other career opportunities, with his last working day set for July 31. Bursa Malaysia announced Azizan's appointment in a separate filing, highlighting his more than 20 years of experience in accounting, finance and advisory, including previous roles at Deloitte Malaysia and KPMG United Kingdom. "Azizan's extensive expertise in both conventional and Islamic finance makes him well-suited to steer Bursa Malaysia's financial strategy and governance," the exchange said. Azizan's entry into Bursa Malaysia follows the departure of Rosidah, who officially stepped down on May 17 to pursue personal interests, prompting a search for her replacement. During the interim, group finance and corporate services executive vice president Rasmona Abdul Rahman was appointed acting CFO to ensure continuity. Azizan is a fellow of the Association of Chartered Certified Accountants, a member of the Malaysian Institute of Accountants and holds a chartered professional qualification in Islamic Finance. He earned his degree in accounting and finance from the University of Plymouth in the UK.
The Star
04-06-2025
- Business
- The Star
Bank Islam to decommission GO banking app, website
The bank said over 90% of its existing user base have successfully migrated to its new digital banking platforms. KUALA LUMPUR: Bank Islam Malaysia Bhd will retire its legacy mobile banking app, GO, and Internet banking platform effective June 28, 2025. The bank said in a statement that since the November 2024 launch of the new and enhanced BIMB Mobile banking app and BIMB Web ( over 90% of the existing user base have successfully migrated to the new digital banking platforms. 'This overwhelming adoption has fast-tracked the decommissioning deadline from Nov 28, 2025 to June 28, 2025, six months ahead of schedule, reinforcing Bank Islam's commitment to delivering a seamless and secure banking experience,' it said. — Bernama
The Star
04-06-2025
- Business
- The Star
Bank Islam to decommission GO banking app, BankIslam.biz website from June 28
KUALA LUMPUR: Bank Islam Malaysia Bhd will retire its legacy mobile banking app, GO, and Internet banking platform effective June 28, 2025. The bank said in a statement today that since the November 2024 launch of the new and enhanced BIMB Mobile banking app and BIMB Web ( over 90 per cent of the existing user base have successfully migrated to the new digital banking platforms. "This overwhelming adoption has fast-tracked the decommissioning deadline from Nov 28, 2025 to June 28, 2025, six months ahead of schedule, reinforcing Bank Islam's commitment to delivering a seamless and secure banking experience,' it said. Bank Islam said that to ensure uninterrupted access to its digital banking services, customers are urged to transition to the new platforms immediately. "The upgraded and enhanced solutions offer improved functionality, greater security including biometric login and secure transaction authentication and an intuitive interface, reflecting the bank's commitment to continue digital innovation and customer-centric service,' said Bank Islam. BIMB Mobile delivers a refreshed digital experience with a sleek interface, robust performance and strengthened safety features upgrades, including biometric login and secure transaction authentication. With just a few simple taps, customers can seamlessly manage essential banking services, such as balance enquiries, fund transfers, bill payments, DuitNow QR transactions, zakat contributions, Debit Card-i maintenance and the new Bank Islam Gold Account-i. - Bernama
New Straits Times
30-05-2025
- Business
- New Straits Times
Bank Islam Q1 earnings down on higher provisions, but non-fund income jumps 50pct
KUALA LUMPUR: Bank Islam Malaysia Bhd's (BIMB) net profit dropped 3.4 per cent to RM126.27 million in the first quarter ended March 31, 2025 (1Q25) from RM130.73 million a year ago. The lower earnings were mainly due to higher net allowance for impairment on financing and higher total overheads, mitigated by higher net income, the bank said in a filing to Bursa Malaysia today. However, revenue for the quarter rose to RM1.23 billion, down 7.89 per cent from RM1.14 billion previously. Earnings per share stood at 5.57 sen, down 0.2 sen from 5.77 sen in 1Q24. BIMB registered a net income of RM673.5 million in 1Q25, a nine per cent increase from a year earlier, primarily driven by a 50.3 per cent surge in non-fund-based income at RM133.6 million. Other contributing factors included increased foreign exchange transactions income and net gains from the sale of investment securities. BIMB's net allowance for impairment on financing and advances rose by RM37.5 million to RM79.8 million in the quarter, primarily due to an increase in net new impaired financing. The bank's total assets stood at RM98.3 billion, up eight per cent year on year, spurred by increased investment securities and financing. Gross financing grew six per cent to RM71.8 billion, driven by a 6.5 per cent increase in consumer financing and a 10.4 per cent rise in commercial financing. Customer deposits and investment accounts rose 5.5 per cent to RM80.6 billion. As of March 2025, the bank's current, savings and transactional investment accounts stood at RM30 billion, representing a healthy composition of 37.2 per cent. Total capital ratio remained robust at 18.7 per cent. Commenting on the financial performance, group chief executive officer Datuk Mohd Muazzam Mohamed said the bank delivered a modest first quarter performance, driven by strategic growth and a commitment to sustainability. "As a forward-looking, Shariah-compliant financial institution, we continue to evolve with customer expectations while leveraging technological advancements in Islamic finance. "Our continued focus on responsible banking and long-term sustainable growth reinforces Bank Islam's leadership in shaping a more inclusive, resilient, and future ready financial ecosystem," he said in a separate statement. On prospects, BIMB said its business growth strategies for 2025 prioritise the expansion of wealth management, Ar-Rahnu and bureau-de-change services, while fortifying collaboration with its subsidiaries, namely, BIMB Investment Management Bhd and BIMB Securities Sdn Bhd. The bank will also continue to strengthen its Ar-Rahnu services by expanding product offerings and enhancing accessibility, further advancing Shariah-compliant financial solutions to meet evolving customer needs. BIMB said it remains steadfast in addressing environmental and social challenges, particularly climate change and community upliftment. It noted that social finance remains the key pillar in this approach, spearheaded by its globally recognised social finance driver, Sadaqa House.
The Star
30-05-2025
- Business
- The Star
Bank Islam registers 1Q earnings dip to RM126.27mil
KUALA LUMPUR: Bank Islam Malaysia Bhd delivered a modest first-quarter performance in 2025, which underpinned by a surge in non-fund based income, although there was also an increase in the net allowance for impairment on financing and advances. The bank reported a net profit of RM126.27mil, slightly lower than RM130.73mil in the year-ago quarter, while revenue rose to RM1.23bil from RM1.14bil in the same quarter of the previous year. Quarterly earnings per share dipped to 5.57 sen form 5.77 sen in the comparative quarter. According to the bank, non-fund-based income jumped 50.3% to RM133.6mil supported by higher fees and commission income, increased foreign exchange transactions income and net gains from the sale of investment securities. Net fund-based income rose 2.1% to Rm539.8mil, driven by growth in financing and investment securities. However, the group reported net allowance for impairment on financing and advances rose RM37.5mil to RM79.8mil in the quarter, primarily due to an increase in net new impaired financing. The group said its asset quality remaine dstrong, with its gross impaired financing ratio standing at 1.08% as of March31, 2025, well below the industry average of 1.42%. "As a forward-looking, Shariah-compliant financial institution, we continue to evolve with customer expectations while leveraging technological advancements in Islamic finance. "Our continued focus on responsible banking and long-term sustainable growth reinforces Bank Islam's leadership in shaping a more inclusive, resilient, and future- ready financial ecosystem,' said group CEO Datuk Mohd Muazzam Mohamed in a statement. During the quarter, gross financing grew 6% year-on-year (y-o-y) to RM71.8bil, driven by a 6.5% increase in consumer financing and a 10.4% rise in commercial financing. Customer deposits and investment accounts rose 5.5% y-o-y to RM80.6bil. As of March 2025, current, savings and transactional investment accounts (Casatia) stood at RM30bil, representing a composition of 37.2%.
