Page 22 - Bank-Muamalat-Annual-Report-2021

20 BANK MUAMALAT MALAYSIA BERHAD
ABOUT US OUR LEADERSHIP OUR STRATEGY OUR PERFORMANCE

CHAIRMAN'S
STATEMENT

The Bank supported various deferment and assisted payment schemes
such as PEMULIH, Targeted Payment Assistance, and URUS, as well as

extended a six-month moratorium on financing facilities to boost the
business resilience of small and medium enterprises ("SMEs").

The going was tough in 2021 with continued tightening of COVID-19 lockdowns, but
Alhamdulillah, it has also made us tougher. The Bank has made strong strides on several
fronts during the year under review.

Across all operations, there is a heightened focus on digitalisation and technology as we
Common Equity
work to uplift the banking experience to meet the needs of a new generation.
Tier-1 Ratio : 13.7% Amplifying efforts to ensure operational continuity, we are undertaking a comprehensive
(FY2020: 15.5%) approach to risk mitigation and compliance practices, ensuring that the right framework
and controls are in place to protect the business and boost sustainable returns.
Total Capital Ratio: 17.4%
(FY2020: 18.0%) Last but not least, our commitment to uplift the community continues to grow as the
Jariah Fund, the Bank's social crowdfunding platform for charitable projects, was further
Gross Impaired Financing Ratio: 0.83% expanded in 2021, benefitting more than 100 beneficiaries in the areas of education,
health and economic empowerment.
(FY2020: 1.1%)
Financial Review
I am proud to report that our performance for the year was underscored by a
record 46.8% y-o-y increase in profit before zakat and taxation (“PBZT”).
The stellar performance was largely driven by increased total income, strong
financing growth and improved asset quality, which were achieved through
Muamalat Application Platform: steadfast commitment to the Bank’s RISE24 strategic plan. The five-year plan
focuses on positioning the Bank for a new era of banking by accelerating
Total of 10,117 financing applications
Total ticket size of digitalisation, expanding our customer base, and improving service efficiency.
The Bank Muamalat Application Platform (“MAP”) was a key initiative of these
RM1.28 billion strategic drivers and has recorded growing popularity since its introduction
in October 2020, allowing customers to apply for financing online and track
their financial journey at their own convenience. A total of 10,117 financing
applications were submitted through MAP in 2021, with a total ticket size of
RM1.28 billion.

As a result, together with intensive sales efforts, the Bank’s total assets grew
7.0% to RM27.6 billion, as compared to RM25.8 billion in the previous financial
year. This was largely contributed by the 14.5% growth or RM2.6 billion increase
in total gross financing to customers, from RM18.2 billion to RM20.9 billion,
as of 31 December 2021, mainly from the retail banking segment.