Page 56 - Bank-Muamalat_Annual-Report-2023

BANK MUAMALAT MALAYSIA BERHAD

RETAIL

BANKING

Revenue The Retail Banking Division (RBD) plays a pivotal role in
RM1.11 serving individual customers and meeting their financial
needs. It provides a diverse array of retail financing
billion products and services, encompassing property financing,
(28.80% YoY)
personal financing, vehicle financing, Amanah Saham
Bumiputra (ASB) financing, Ar-Rahnu financing, and retail
investment. The division focuses on building long-term
Financing Income
(RM Million) relationships with customers by offering personalised
financial solutions, delivering exceptional customer
777.45 1,024.89 service, and enhancing accessibility through various
banking channels. Additionally, RBD plays a significant
role in generating revenue for the Bank through financing
income, fees, and commissions derived from its retail product
offerings.

In FY2023, strategic package enhancements were accompanied by strides made in
service delivery through process improvements and adoption of Robotic Process
Automation (RPA). These helped support financing growth by increasing efficiency
and elevating customer experiences. In particular, the roll out of an improved
Muamalat Application Platform (MAP) attracted a total of 14,302 applications
2022 2023 which amounted to RM847.39 million worth of approved financing. As at
31 December 2023, RBD effectively managed a cumulative total of RM20.35 billion
Fees and Other Income in retail financings, marking a substantial 19.3% growth from FY2022.
(RM Million)

54.42 68.74

2022 2023

54