Page 57 - Bank-Muamalat-Annual-Report-2021
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ANNUAL REPORT 2021 55
SUSTAINABILITY STATEMENT OUR GOVERNANCE OUR NUMBERS OTHER INFORMATION
RETAIL
BANKING
Contribution to Bank’s
Revenue
63%
Revenue
RM706.7 million
RETAIL BANKING
Retail Banking, Economic recovery in 2021 was slow globally, as the emergence of COVID-19
previously known as variants led to reimposition of restrictions in many countries, including Malaysia,
throughout the year. However, despite the uncertainties and continued
Consumer Banking pandemic challenges, the Bank’s Retail Banking Division ended the financial
prior to September year 2021 (FY2021) with RM706.7 million in revenue, up from RM604.8 million
in FY2020. Profitable growth was achieved through expansion of offerings
2021, provides financial in the Division’s core businesses of mortgage financing, personal financing,
services to individual auto financing, ASB financing, Ar-Rahnu financing, wealth management, and
deposits.
consumers and also
It continued to be an important year for the Bank’s Muamalat Application
deposit services to Platform (“MAP”) and other non-face-to-face (“NFTF”) activities. MAP was
individuals and small introduced back in October 2020 in response to the evolving market conditions
and customer behaviour, and to facilitate online financing submissions for
business entities. customer on-boarding outside business premises. More financing applications
Acquiring deposits, were generated through this platform right after the enhancement of the MAP
project to all retail financing products. Due to the reimplementation of the
increasing digitalisation Movement Control Order (“MCO”) enforced by the government in mid-2021,
initiatives, improving the NFTF transactions resulted in fee and commission income rebounding by
24% or RM8.3 million. A total of 10,117 financing applications were submitted
productivity, controlling through MAP in 2021, with a total ticket size of RM1.28 billion.
costs, managing asset
Good progress was also made on Value-Based Intermediation ("VBI"),
quality, and expanding which is promoted by BNM to match Islamic finance business models
with Shariah's goal of generating beneficial and long-term impact on the
our client base are the
economy, community, and environment. VBI principles are the anchors of
highest priorities for the Bank’s value-creating approach and product creation process. Through
products and services that are relevant to our customer segments' needs for
retail banking.
inclusive growth, Bank Muamalat aspires to contribute to the real economy
while also meeting societal demands and benefitting the environment
through a growing focus on green financing and social finance.
