40. OPERATING SEGMENTS (CONTINUED) 2022 Consumer Banking RM’000 Corporate and Commercial Banking RM’000 Treasury RM’000 Shareholders unit RM’000 Elimination RM’000 Group Total RM’000 Total Revenue (a) 2,355,432 668,568 512,032 69,360 (29,038) 3,576,354 Net fund based income (b) 1,194,710 494,038 73,457 316,614 – 2,078,819 Non-fund based income (c) 183,078 37,792 (29,743) 66,387 (26,387) 231,127 Net income 1,377,788 531,830 43,714 383,001 (26,387) 2,309,946 Net allowance for impairment on financial assets (84,853) (55,179) 1,314 (355) – (139,073) Profit before overheads, zakat and tax 1,292,935 476,651 45,028 382,646 (26,387) 2,170,873 Operating expense, direct expense and finance cost (1,424,007) Profit before zakat and tax 746,866 Segment assets 48,171,809 16,730,185 21,857,219 504,693 (358,859) 86,905,047 Unallocated assets 2,946,624 Total assets 89,851,671 (a) Included in total revenue are income derived from investment of depositors’ funds, investment account funds, investment of shareholders’ funds, loss on modification of financial assets, and wakalah fees from restricted investment accounts. (b) Net fund based income is derived after deducting the income attributable to depositors and income attributable to investment account holders. (c) Included in non-fund based income are fee and commission income that amounted to RM247,936,000 and investment income of RM19,751,000. 41. FINANCIAL RISK MANAGEMENT Overview The Group’s and the Bank’s business activities involve the use of financial instruments which expose the Group and the Bank to various financial risks, namely credit risk, market risk and liquidity risk. The Group’s and the Bank’s financial risk management is guided by the Group’s Risk Appetite Statement and Risk Management Policies/Guidelines and subject to the oversight by the Board of Directors (“Board”) via the Board Risk Committee (“BRC”). The BRC is assisted by the specific Risk Management Committees namely the Management Risk Control Committee (“MRCC”) and the Asset & Liability Management Committee (“ALCO”). 348 Notes to the Financial Statements for the financial year ended 31 December 2023 Bank Islam Malaysia Berhad ◆ Integrated Annual Report 2023
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