Page 56 - Bank-Muamalat-AR2020

54 BANK MUAMALAT MALAYSIA BERHAD About Us Our Leadership Our Strategy
About Us
ANNUAL REPORT FY2020

CONSUMER

BANKING

Mortgage Financing Middle 40% (T20 & M40) income Personal Financing
groups through enhanced approaches
FOR FY2020, and features in its SMART Mortgage FOR FY2020,
MORTGAGE Flexi (Tawarruq) launched in July 2020. PERSONAL
FINANCING At the same time, Consumer Banking FINANCING
REPRESENTED actively pursued overwhelming public REPRESENTED
44% OR RM5.3 BILLION OF response to Skim Rumah Pertamaku 36% OR RM4.3 BILLION OF
CONSUMER BANKING’S (“SRP”) and Skim Jaminan Kredit CONSUMER BANKING’S
TOTAL FINANCING ASSETS. Perumahan (“SJKP”) through affordable TOTAL FINANCING ASSETS.
home financing opportunities for the
Below 40% (B40) income segment.
Mortgage Financing Outstanding It was a dynamic year for Personal
(RM Billion) In view of the limitations posed by Financing as total personal financing
the MCO, marketing efforts were assets grew by 29% y-o-y. Adopting
%
+ 8 growth
concentrated on increased collaborations to new norms, Consumer Banking had
with business partners, solicitors and leveraged on MAP’s borderless banking
5.00 5.19 5.06 4.97 4.92 5.29 developers; in addition to increased capabilities to offer Personal Financing-i
e-marketing of promotions through to targeted staff of Government
channels such as Loan Street, i-property, agencies, statutory bodies, Government-
iMoney, mudah.my, Facebook, Twitter linked corporations (“GLCs”), large
and Instagram. Towards increasing corporations and pensioners. On
branding awareness in the real December 2020, Consumer Banking
estate market, Consumer Banking had also launched the Employee
will further enhance and diversify Empanelment Programme (“EEP”)
mortgage financing products to be and registered 115 companies as part
more competitive as well as offer more of the Bank’s strategic initiative to
attractive campaigns to customers. select professional customer segments
FY15/16 FY16/17 FY17/18 FY18/19 FY2019 FY2020
The SMART Mortgage Solution, SJKP for increased asset quality. Through
and SRP packages are among the top EEP, the Bank was able to identify
BNM’s reduction of the OPR during products in mortgage financing that customers according to salary scale
the year indirectly helped customers have been able to penetrate the larger and offer customised benefits through
pay less for their financing with lower real estate market. product enhancements. These included
profit rates, which translated into more financing limit of up to RM400,000 (for
disposable income. Within the property Performance Review Personal Financing Cash-i product);
segment, the customer sentiment on standardised Debt Service Ratio
financing also improved due to several The introduction of new product (“DSR”) and Net Disposable Income
Government incentives for property packages and features, coupled with (“NDI”); the offering of promotional
such as exemption on stamp duty and good response to the SJKP and SRP rates; as well as packaging the best
100% margin of financing for first time Home Schemes boosted total new investment platform. Other marketing
buyers. mortgage financing sales of RM1.47 initiatives embarked on were the
billion in FY2020. As a result, the
As a whole, Consumer Banking year-on-year (“y-o-y”) total for new organisation of financial talks and
collaboration with selected state
continued to cater to broader-based approvals grew by more than 100%. organisations across the country, as
residential property financing market Landed properties dominated 79% of well as social media engagements
through the Bank’s signature SMART the property type followed by flats during the MCO period.
House scheme and SMART Solution or apartments at 11%. The Bank has
package. However, there was added extended financing amounting to
vigilance on boosting asset quality RM291.87 million to the affordable
through an intensified focus on home financing segment as at end of
customers from the Top 20% and 2020.