Page 57 - Bank-Muamalat-AR2020

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Our Performance Sustainability Statement Our Governance Our Numbers Other Information
Governance

Personal Financing Outstanding In line with BNM’s prudent measures, Vehicle Financing
(RM Billion)
the Bank categorised its personal FOR FY2020,
%
+ 29 growth financing under the following financial VEHICLE FINANCING
planning product segments: REPRESENTED 5% OR
3.26 3.63 3.49 3.39 3.36 4.33 RM617.2 MILLION
Pembiayaan Pengurusan Kewangan OF CONSUMER BANKING’S
(“PPK”) TOTAL FINANCING ASSETS.
RM 1,301.4 million/
%
30.0 (34,572 accounts)
Prolonged sluggish growth and
the resultant economic downturn
Pembiayaan Peribadi Pesara (“3P”) had significant negative impact on
RM 1,537.0 million/ the automotive industry outlook
throughout 2020. The enforcement
%
35.5 (28,982 accounts)
of the MCO saw a drastic drop in
FY15/16 FY16/17 FY17/18 FY18/19 FY2019 FY2020 vehicle production and sales volumes.
Pembiayaan Persediaan Persaraan Fortunately, the sales trend increased
The ventures were supported by (“3PS”) in June 2020 and beyond as demand
the diversification of the personal RM 730.9 million/ for new cars increased following the
financing portfolio in November 2019 16.9 (9,575 accounts) introduction of the Sales Tax exemption
%
to Personal Financing Cash-i Muamalat on sales of new completely-knocked-
offering financing amounts up to down (“CKD”) and completely-built-up
RM300,000. The product comprises Personal Financing Cash (“Cash-i”) (“CBU”) cars.
Cash-i Muamalat (for Government and RM 745.9 million/ Nevertheless, Consumer Banking was
Panel Employer), Cash-i Muamalat Pro 17.2 (5,497 accounts) cautious of the knock-on impact of
%
(for Professional Programme), Cash-i business closures and worked to re-
Muamalat Prestige (for the Mass strategise its approach to respond with
Affluent) and Collateralised Cash-i agility to new opportunities and attract
Muamalat (based on secured financing). customers from higher income brackets.
These products are differentiated by In response to 2020 market trends,
eligibililty criteria such as monthly the Bank approved special financing
income and professions.
packages for Proton X50 and Proton
Performance Review X70 models with revised profit rates
and financing margins of up to 100%.
Total Personal Financing outstanding The Bank also offered better rates and
stood at RM4.3 billion, a 29% increase financing margins of up to 100% for
from FY2019. Total new disbursement selected Honda models to improve the
of Personal Financing-i reached RM1.5 non-national car segment.
billion driven by the right selection of
market segment, aggressive marketing The automotive industry is expected to
through social media, and the attractive remain challenging in the year ahead
product features offered under Personal in view of the cautious consumer
Financing Cash-i Muamalat. sentiment and business confidence. The
prolonged pandemic and the resulting