Malaysia’s economic rebound will also be supported by continued global growth, with the International Monetary Fund (IMF) projecting that world economy will grow by 4.4% in 2022. Key domestic industries, such as manufacturing and services, are set to benefit f rom the global economic recovery as Malaysia is highly integrated into global supply chains. Questions about the strength of the global recovery persist, though. The ongoing disruption in global supply chains, rising inflation and energy prices, and growing geopolitical tensions centred on Eastern Europe all add elements of uncertainty to the global growth projections. Notwithstanding these risks, 2022 looks set to be a year of continued recovery. The projected rebound, however, will not mean a return to the status-quoante and BIMB is actively positioning itself to capitalise on key trends that will define the next normal. Sustainabi l ity considerations wi l l continue to move to the centre of business and f inance, with the SC integrating them into their latest updates to the Malaysian Code of Corporate Governance and BNM placing the transition to a greener economy at the heart of its new five-year Financial Services Blueprint 2022 – 2026. We welcome these initiatives as they play to our strengths and are aligned with our own business strategy. Competition in the area of Green Financing will intensify as banks increase the target size of their green portfolios. However, we believe that our strong track record in Green Financing, deep network of relationships in the Malaysian corporate world and our established position as a values-based lender gives us a competitive edge in this area. One of the most lasting impacts of the COVID-19 pandemic has been the growth of digitalisation. The digital economy accounted for 22.6% of Malaysia’s GDP by the end of 2021, but is projected to grow to 25.5% of GDP by 2025, driven by a rise in e-commerce and digital finance. To capitalise on this opportunity we will continue to invest in ensuring that we have the right people, the right technology and the right strategy to deliver the customised solutions that digital customers demand. In conclusion, as we move forward, BIMB is focused on our goal of being The Bank that Advances Prosperity for All. To deliver on this, we will continue to accelerate the transformation of our company in line with our LEAP25 strategy by putting customer-centricity at the heart of our business, widening our offerings and embedding digitalisation into all areas of our business and operations. This is how we will unlock new growth opportunities and this is how we will continue building sustainable value for our stakeholders. ACKNOWLEDGEMENTS Firstly, I wish to thank our customers for the support that they have shown us as we continue our transformation journey. I would also like to express my appreciation to our shareholders, who have placed their trust in us. We will continue working to be worthy of their confidence. I wish to express my particular gratitude to our Chairman and Board of Directors for their effective stewardship of our company as we navigated the challenges of the last year. I also wish to thank my colleagues in the BIMB leadership team for the excellent job that they have done. I look forward to continuing to work with you in the year ahead. Finally, I wish to express my gratitude to all members of our extraordinary workforce. It is your dedication that drives our success. MOHD MUAZZAM MOHAMED Group Chief Executive Officer INTEGRATED ANNUAL REPORT 202 1 Key Messages Overview Value Creation MD&A Sustainability Leadership Accountability Financial Additional Information 21
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