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MANAGEMENT
DISCUSSION & ANAlYSIS

OUTLOOK

COVID-19 is once again taking its toll on economic activities as the third wave prompts new restrictions,
but the vaccine news is a game-changer for the outlook over the next two years. BNM opines that the
Gross Domestic Product (“GDP”) will rebound amidst a low unemployment rate but with an improved
Consumer Price Index (“CPI”). Such a positive outlook for 2021 will be backed by a favourable global
growth projection and a revival in domestic economic activities. In turn, this will bode well for financial
INTEGRATED ANNUAL REPORT 2020 The pandemic should be seen as a window of opportunity to grow sustainably. In this trying time, our
market performance.

initiatives further reflect our commitment towards financial inclusivity, which ensures development for
all as we seek to support economic recovery and safeguard the rakyat’s livelihood. Therefore, as part
of its business plan for 2021, the Bank is embarking on a 5-year roadmap to deliver the promise of
technology, redefine growth and work in new ways to address upcoming challenges.
By 2025, the Bank Islam aspires to be the leading bank in offering Shariah environmental, social and
governance (“Shariah-ESG”) total financial solutions with leadership in digital banking and social finance.
The plan mobilises six strategic objectives premised on the Bank’s role as Value-Based Intermediary
80 (“VBI”), namely Sustainable Prosperity, Value-based Culture, Community Empowerment,
Customer Centricity, Real Economy and Digitalisation. The objectives will be supported by key
initiatives, directly focused efforts towards the end goal in 2025 such as to expand portfolio relating
to the real and green economy; implement integrated wealth management business model; accelerate
BIMB HOLDINGS BERHAD 199701008362 (423858-X) Ratings, BHB is proceeding with its proposed group restructuring exercise that will unlock significant
digitalisation; promote social finance, and enforce cost management initiatives.
Against a strong backdrop of credit metrics with the recent reaffirmation of AA3/Stable/P1 by RAM

value for shareholders, as well as transferring its listing status to its subsidiary, Bank Islam. The exercise
will see the Bank becoming the only full-fledged Islamic financial institution listed in Malaysia, having
greater access to tap the capital markets for an exciting future of business expansion.