Page 60 - Bank-Muamalat-Annual-Report-2021

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

RETAIL
BANKING

41% Pembiayaan Tunai (Cash-i)
RM2,106.3 million/37.1% (15,316 accounts).
Personal Financing’s representation of
Retail Banking Division’s Total Financing Pembiayaan Peribadi Pesara (“3P”)
Personal Assets. RM1,596.2 million/28.1% (29,247 accounts).
Financing
Pembiayaan Pengurusan Kewangan (“PPK”)
Performance Review RM1,063.9 million/18.7% (31,035 accounts).
Total outstanding Personal Financing was RM5.71 billion,
Pembiayaan Persediaan Pesaraan (“3PS”)
up 30.0% from FY2020. The correct selection of niche targets,
RM904.12 million/15.9% (11,000 accounts).
aggressive promotion through social media, and compelling
product features supplied under the relatively new product
line: Cash-i Muamalat. This product line comprises Cash-i
Muamalat (Government and Panel Employer), Cash-i Muamalat Personal Financing Outstanding (RM Billion)
Pro (Professional Programme), Cash-i Muamalat Prestige
(Mass Affluent) and Collateralised Cash-i Muamalat (secured 3.71 3.71 3.56 3.42 4.39 5.71
financing). Each differs by eligibility criteria such as monthly
income and professions. As a result, total new disbursement
of Personal Financing-i grew to RM2.2 billion, with total assets
increasing by 30.0% in 2021.
+30.1%
Since almost all the Bank’s branches across the country were
affected by the MCO in the early part of the year, new marketing
strategies were implemented to penetrate new better-rated 2016 2017 2018 2019 2020 2021
customer segments with salaries of RM7,000 and above.
These included more competitive enhancements to product
features such as financing limits up to RM400,000 (for Personal
Financing Cash-i product), standardised DSR and NDI, offering
promotional rates, and providing the best investment platform.
MAP was leveraged on to support Personal financing business
and this was coupled with intensified online sales rapport
and engagement with the existing target markets, namely
government employees, statutory bodies, government-linked
corporations (“GLCs”), pensioners, and large corporations.
In addition, the Division actively conducted financial
conversations and collaborations with selected organisations
in all states, to improve product packages and expand the
number of market sectors for governments and experts.

The recently introduced Employer Empanelment Programme
(“EEP”) has also partly contributed to the growth achieved
during the year. Increased applications from the better-rated
customer segment targeted through 166 registered companies
and 123 registered subsidiaries under the EEP, has improved
asset quality as of December 2021.