MALAYSIA BUILDING SOCIETY 4Q22 ANALYST BRIEFING
Datuk Nor Azam M. Taib
GCEO, MBSB
24 February 2023
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AGENDA
2022 KEY HIGHLIGHTS
- Datuk Nor Azam M. Taib (GCEO)
4Q22 FINANCIAL PERFORMANCE
- Ramanathan Rajoo (CFO)
MOVING FORWARD
- Datuk Nor Azam M Taib (GCEO)
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2022 KEY HIGHLIGHTS
Highest net profit in 3 years of RM460 mil, up by 4.9% YoY. Net funded income rose to RM1.4 bil, up by 14.5% Yoy
Highest financing growth of 6.6% since AFB acquisition - Driven by corporate financing of 19.7% and property financing 14.8%
Tapering of GIR to 6.8% from peak of 7.4% in 3Q22
Inclusion into SAC shariah compliant list in Nov 22 - One of only two listed shariah banking stock
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2022 FINANCIAL SNAPSHOT
Income
Expenses
FY2022 Var
1,460 118
2021: 1,343
(650) | (108) |
2021: (542)
4Q22
328
4Q2021: 244
(207)
4Q2021: (188)
Var | Significant improvement in Profit after Taxation |
84 Total income growth of RM118mil YoY due to lower modification loss following the end of moratorium despite margin compression of 45bps (FY2022: 2.80% vs FY2021: 3.25%).
- Increase expenditure contributed by higher personnel cost in tandem with increase in manpower and IT cost due to infrastructures.
Profit before provision
810 | 10 |
2021: 800
120 | 64 | Cost to income ratio increase in tandem with higher overheads. |
4Q2021: 56
Profitability
(RM'mil)
Impairment
Profit after taxation
(118) | (32) | 188 | 80 | Credit cost increase from 25bps (FY2021) to 33bps (FY2022). |
2021: (86) | 4Q2021: 109 | |||
460 | 21 | 201 | 124 | Higher PAT due to adjustment for underprovision of tax in FY2021. |
2021: 439 | 4Q2021: 76 |
Assets &
Liabilities
(RM'bil)
Capital & Liquidity
ROE (Post tax)
ROA (Post tax)
Gross Financing/Loans
Customer Deposits
CET1
LCR
5.22% | 0.22 |
2021: 5.00%
0.87% | (0.02) |
2021: 0.89%
38.6 | 2.4 |
2021: 36.2
36.5 | 3.2 |
2021: 33.3
21.86% | 0.36 |
2021: 21.50%
176.20% (58.48)
2021: 234.68%
Higher ROE resulting from higher PAT.
Decrease in ROA% contributed by margin squeeze following 4 OPR hike in FY2022 despite the expansion of asset base.
Expansion of portfolio across all business segments.
Growth in deposit in tandem with asset growth. CASA grew from RM1.4b to RM2.3b.
Capital ratio remained above 20%.
LCR well above regulatory minimum requirement. | 4 |
2022 P&L SUMMARY
Higher PBT Growth QoQ (4Q21 vs 4Q22) on Higher Net Operating Income
More
details on
Slide 2022 NET
OPERATING INCOME
Slide 2022 NET
OPERATING INCOME
Slide 2022 NET
OPERATING INCOME
Slide 2022 OVERHEAD
EXPENSES
Slide 2022 NET
IMPAIRMENT LOSSES
RM million | FY2022 | FY2021 | YoY | 4Q22 | 3Q22 | QoQ | 4Q21 | YoY |
Net Funded Income | 1,407 | 1,229 | 14.5% | 304 | 341 | -10.8% | 224 | 35.6% |
Other Operating Income | 53 | 113 | -53.0% | 23 | 16 | 43.5% | 19 | 22.0% |
Net Operating Income | 1,460 | 1,343 | 8.8% | 328 | 357 | -8.4% | 244 | 34.5% |
Overhead expenses | (650) | (542) | 19.9% | (207) | (157) | 32.3% | (188) | 10.5% |
Pre-provisioning operating profit | 810 | 800 | 1.2% | 120 | 201 | -40.1% | 56 | 115.3% |
Net impairment losses | (118) | (86) | 37.8% | 188 | (103) | -282.3% | 109 | 73.7% |
Profit before taxation and Zakat | 691 | 714 | -3.2% | 309 | 97 | 217.0% | 164 | 87.8% |
Net Profit | 460 | 439 | 4.9% | 201 | 60 | 234.8% | 76 | 162.5% |
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Disclaimer
MBSB - Malaysia Building Society Bhd published this content on 24 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 February 2023 08:56:10 UTC.
