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KUALA LUMPUR: Malaysia Building Society Bhd (MBSB) pre-tax profit rose by 25.6 per cent to RM310.90 million for the second quarter ended June 30, 2014 from RM247.59 million in the corresponding period last year.

The revenue was higher at RM672.08 million from RM614.30 million registered previously.

In a filing to Bursa Malaysia, chief executive officer Datuk Ahmad Zaini Othman said despite a tough market, MBSB delivered a steady underlying performance with growing profits, improved revenue and quality assets.

"Our entire core business contributed to this result and the performance was primarily driven by retail segment and supported by the increase in corporate business assets," he said.

For the first half performance, MBSB's pre-tax profit was recorded at RM577.90 million, a 19.2 per cent increase from RM484.70 million last year while its revenue grew by 13.8 per cent to RM1.34 billion compared with RM1.18 billion previously.

Ahmad Zaini said overall financial position remain steady with continued business growth and expansion in new strategic growth areas.

The company maintains its stand-alone capabilities driven by innovative and competitive retail financing products lines, diversified customer base, enhance technology capabilities and Islamic financing potentials.

Ahmad Zaini said it holds strong footprints in personal financing, house financing, and recent business ventures into property development, oil and gas, and infrastructure sector markets.

On the merger deal with CIMB Group and RHB Capital, Ahmad Zaini said MBSB is in active discussion with the merger parties on options at various levels to ensure that the company is poised with good value as a merger entity.-- Bernama

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