Dear Shareholders, 2021 remained a year of challenges as the economy continued to feel the impact of the COVID-19 pandemic and faced new headwinds from global supply chain disruptions and rising inflationary pressure. As we navigated the challenges of the year, we stayed true to our values as an Islamic bank by extending support to our customers in need, while maintaining an effective balance between financial prudence and investing in our future growth. The operating environment remained challenging, with the Malaysian banking sector continuing to face margin compression as BNM maintained its benchmark OPR rate at a record-low of 1.75% in order to support the economy. However, the overall economy also continued to benefit from the government’s RM530 billion in stimulus measures which supported a rebound in business activity and financing growth. At the same time, the banking sector as a whole also continued to raise provisions against potential credit losses as the financing moratoriums introduced over the last two years begin to winddown in the first half of 2022. Industrywide provisions stood at 1.9% of total banking system financing at the end of 2021 (2020: 1.7%). The year under review was also a pivotal one for BIMB as we assumed listed status on 8 October 2021. The relentless effort at garnering both existing and potential investors resulted in a highly-successful bookbuilding exercise at BIMB Holdings Berhad in April 2021, with our shares being oversubscribed, which underscores investors’ confidence in the future of our Group as they look beyond the short-term challenges. Financial Review from the GroupChief Financial Officer PROFIT BEFORE ZAKAT AND TAX (PBZT) RM704.2 Million 2020: RM728.2 million 3.3% EARNINGS PER SHARE 21.9 Sen 2020: 22.0 sen BIMB DELIVERED A COMMENDABLE SET OF RESULTS FOR THE FINANCIAL YEAR 2021 . OUR PROFIT BEFORE ZAKAT AND TAX STANDS AT RM704.2 MILLION AND THE GROUP HAS DECLARED AN INTERIM DIVIDEND OF 10.93 SEN PER SHARE FOR THE YEAR. 72 BANK I SLAM MALAYS IA BERHAD
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