Page 51 - Bank-Muamalat_Annual-Report-2023

ANNUAL REPORT 2023
OUR STRATEGY

KEY FOCUS TO DRIVE MOMENTUM IN FY2024 To achieve the goals of these focus areas, we plan to:
Moving forward these 8 strategic thrusts will continue to be 1. Maintain revenue growth momentum by growing
the drivers of progress in FY2024. The Bank’s key focus areas high yielding assets, heightening group synergies, and
for next year will be to: accelerating core fee income through the cards business
and retail-based products.
Continue to Drive
2. Optimise cost of fund by re-engineering the Bank’s
Sustainable Growth deposits structure towards low cost deposits through
campaigns and intensive marketing.
Optimise 3. Manage our asset quality by:

Cost of Fund • growing secured and government backed assets.
• proactively monitoring asset quality by regularly
reviewing customers' performance and identifying
Manage
early warning signs of potential credit deterioration.
Asset Quality • providing prompt remedial actions where necessary.
• ensuring that the Bank’s gross impaired financing (GIF)
Maximise ratio is well below the industry level.
Capital 4. Ensure efficient capital allocation and distribution
across business lines and activities while considering
factors such as risk-adjusted returns, growth opportunities
Drive
and strategic priorities.
Customer Centricity
5. Drive customer centricity and transform customer
Ensure journeys through acceleration of digitalisation efforts,
and by continuing to empower the B40 and asnaf
Operational Efficiency community through expansion of microfinance
initiatives.

6. Continue to enhance operational efficiency by
implementing process reengineering and digitisation
initiatives.

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