Page 32 - Full Book_24.4.2021

ChAIRMAN’S
REFlECTIONS

The Group has also contributed
generously to COVID-19 prevention
measures during the year in addition
to on-going corporate social
INTEGRATED ANNUAL REPORT 2020 webinars were held, together with
responsibility initiatives. A series of

participation in roadshows to promote
financial wellbeing and career fairs to
provide job opportunities.

STEADFAST VALUE DELIVERY THROUGH THE PANDEMIC In safeguarding the health and safety of our
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employees and customers, all subsidiaries within
Since the onset of the pandemic crisis, our subsidiaries aligned their measures the Group have established robust protocols and
according to BNM’s guidelines, which emphasise protecting consumers’ awareness management, implemented flexible
BIMB HOLDINGS BERHAD 199701008362 (423858-X) Bank Islam has continuously been purposeful in empowering the communities norms for employees, customers and other
financial viability, sustaining real economy, focusing on affordable investing, and
work arrangements, quarantine measures,
supporting frontline workers and underprivileged communities.
regular sanitisation works and enforced new
visitors.
by providing initiatives such as the automatic deferment plan for repayment,
SME Special Relief Facility (“SSRF”) to help alleviate the short-term
Moving forward, the Group remains resilient and
cash flow predicament faced by SMEs. The Bank also introduced iTEKAD
will stay the strategic course of recalibrating key
microfinancing programme to support the B40-owned microenterprises
tactics and initiatives by adopting Value-Based
affected by the pandemic. GO by Bank Islam mobile app was launched
Intermediation (“VBI”) in its business model,
to serve customers better. In paving the way to preserve and create wealth,
the world’s first Shariah Sustainability Robo-Intelligence Investing app
called “BEST Invest” was launched by the Bank’s subsidiary BIMB Investment
COMMENDABLE FINANCIAL
Management Berhad. acknowledging that this is now a new norm.
PERFORMANCE
Takaful Malaysia’s Click for Cover app for online takaful application and For the year in review, the financial industry
services has been instrumental for increasing sales of its products at less cost. as a whole was impacted by lower net financing
It has directly led to a 2% increase in PAZT for FY2020, even as revenue decreased. income arising from multiple downward
Takaful Malaysia then stepped up its product offerings to cater to emerging revisions of the Overnight Policy Rate (“OPR”),
needs. Takaful myClick MozzCare was introduced to provide affordable the recognition of modification loss due
online coverage against Dengue, Zika and COVID-19. Fortifying protection for to industry-wide moratorium exercise and
SMEs, the Takaful mySME plan was designed to provide SME clients with the pre-emptive impairment provision in
option to choose the protection they need by creating a customised and holistic consideration of the challenging economic
package that best suits their business needs. Takaful myWealth Plus was also environment. Against this backdrop, the Group
introduced as a high protection takaful plan with guaranteed cash payment. achieved commendable Profit Before Zakat and
Tax (“PBZT”) of RM1.1 billion. The five-year
The Group has also contributed generously to COVID-19 prevention measures PBZT Compound Annual Growth Rate (“CAGR”)
during the year in addition to on-going corporate social responsibility remained robust at 5.6%.
initiatives. A series of webinars were held, together with participation in
roadshows to promote financial wellbeing and career fairs to provide job
opportunities.