Page 58 - Bank-Muamalat-Annual-Report-2021

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

RETAIL
BANKING

customer segments, enhanced payment monitoring process,
Revenue (RM Million)
as well as improved collection initiatives paid off. Asset quality
611.6 655.4 645.2 512.4 604.8 706.7 grew more robust with impaired financing ratio reducing from
1.14% to 0.81%. As a result, Retail Banking remains the major
contributor to the Bank’s asset portfolios with total assets
of RM14.04 billion.
+16.8%
This spells well moving forward as there were concerns that
the introduction of another six-month moratorium to financing
customers in July 2021, in line with the Government’s Pakej
2016 2017 2018 2019 2020 2021 Perlindungan Rakyat dan Pemulihan Ekonomi (“PEMULIH”),
could result in a lack of cash for the core responsibilities of
Financing Income (RM Million) financing and investing.
0.81%
575.1 620.2 599.8 476.0 608.7 658.3
Retail Banking’s impaired financing ratio for
FY2021 (FY2020: 1.14%)

+8.1%
Financing Asset Outstanding (RM Billion)
9.7 9.8 9.4 10.2 11.8 14.04
2016 2017 2018 2019 2020 2021

Fee Based Income (RM Million)

36.6 35.2 45.4 36.4 35.0 43.3 +19.0%

2016 2017 2018 2019 2020 2021

+23.7%
Financing Outstanding by Product (RM Million)

272.6 103.6
2016 2017 2018 2019 2020 2021
(2%) (1%)
1,081.4 6,236.4
(8%)
Market Review (44%)
634.1
(4%)
Though BNM's decrease of the Overnight Policy Rate (“OPR”)
during the pandemic led to an environment of reduced profit
rates for the banking industry, it has boosted borrowing/ Total Financing
financing behaviour by indirectly helping clients pay less for Outstanding
their borrowing/financing. RM14,040.8 Mil

Double-digit financing growth was maintained for the year.
As of December 2021, total retail financing outstanding
increased by 18.9%, or RM2,236.9 million, to RM14.04 billion. 5,712.9
(41%)
Financing income increased by 7% to RM658.3 million, and
accounted for 72% of the Bank's overall financing income in Mortgage ASB
FY2021. In addition, the continued focus on higher-rated Personal Financing Ar-Rahnu
Vehicle Others