Page 59 - Bank-Muamalat-Annual-Report-2021

ANNUAL REPORT 2021 57
SUSTAINABILITY STATEMENT OUR GOVERNANCE OUR NUMBERS OTHER INFORMATION

Retail Banking’s Financing segment manages the
following financing portfolios:

01 Mortgage Financing
02 Personal Financing

03 Vehicle Financing

04 Ar-Rahnu Financing

05 ASB Financing

44% The year also recorded overwhelming public response to
government introduced affordable home schemes for the
B40 segment, such as Skim Rumah Pertamaku (“SRP”) and
Mortgage Financing’s representation of
Skim Jaminan Kredit Perumahan (“SJKP”), which boosted new
Retail Banking Division’s Total Financing
Mortgage Assets. approvals for overall mortgage financing by RM2.55 billion in
Financing FY2021.
The outlook for mortgage financing for 2022 is expected
Performance Review to remain stable as demand for housing, especially in the
affordable property segment and smaller units for specialised
The property market remains the key contributor to the Retail
luxury projects in good locations at RM500,000 and below
Banking’s total asset, making up 44% or RM6.24 billion. Total
remain high. The secondary property sector accounts for
new approval grew by more than 46%, and the Bank’s mortgage
70% to 80% of total real estate transactions in the country,
financing assets grew by 18% Y-o-Y.
and will continue to dominate the real estate market. Going
Government property incentives such as stamp duty forward in the property financing business, the Division will
exemptions and 100% financing margins for first-time continue to concentrate its efforts on the residential property
purchasers through initiatives such as the Home Ownership financing sector, focusing on the mass-market segment as
Campaign (“HOC”), customers' willingness to buy a home well as affordable housing, with competitive pricing and
has improved leading to robust growth in mortgage financing. flexible financing product packages under the SJKP and SRP
During the year, landed properties dominated 80% of the packages.
property type followed by flats or apartments at 12%.
Mortgage Outstanding (RM Billion)
Retail Banking vigilantly focused on better rated and quality
customers (T20 & M40) through the Bank’s SMART Mortgage 5.01 5.19 5.06 4.92 5.29 6.24
Solution and SMART Mortgage Standard. These provide
financial solutions and debt consolidation and have successfully
penetrated the secondary real estate sector with a total growth
of 14% or RM357.9 million. At the same time, collaborations
with selected leading developers in all states have contributed +18.0%
to positive growth in the primary real estate sector at 11% or
RM264.3 million.
2016 2017 2018 2019 2020 2021