In 2024, we observed a shift in financing trends, with corporate clients increasingly opting for Sukuk issuances for capital raising. This has prompted us to recalibrate our approach to corporate financing. While this resulted in a controlled contraction in our corporate financing book, it was a strategic decision to grow our financial assets at amortised costs (AC) to sustain our financing income from the corporate segment. Meanwhile, inflationary pressures and cost-of-living challenges impacted consumer behaviour. With shrinking take-home pay, household debt service ratios rise, creating an increased demand for financing solutions tailored to affordability and sustainability. In response, we prioritised it to ensure that our services continued supporting individuals, businesses and underserved communities while aligning with broader Environment, Social and Governance (ESG) and Maqasid Shariah objectives. PERFORMANCE HIGHLIGHTS Our financial performance in 2024 reflected our discipline and diligence in a competitive environment. Net income for the year stood at RM2.6 billion, an increase of 3.9% compared to RM2.5 billion in 2023. Total assets expanded to RM96.8 billion, driven by investment securities and financing growth, while CASATIA deposits accounted for 39.7% of total funding. We recorded non-fund-based income of RM397.7 million, supported by strong contributions from investment banking, wealth management, and transaction services. Our leadership in Sukuk advisory was further strengthened, ranking among the top five in the MYR Islamic Sukuk League Table, with significant involvement in ESG-linked issuances. Meanwhile, our strategic shift toward advisory and capital markets solutions ensured continued income diversification. Meanwhile, the successful launch of BIMB Mobile and BIMB Web in November 2024 reinforces our position as a leader in Islamic digital banking. These innovative platforms, built natively on the cloud, are designed for speed, scalability and a seamless user experience, allowing resources to be dynamically allocated based on demand. The system architecture supports greater flexibility for future enhancements, which we will continue to develop and refine to meet the evolving needs of our customers. BIMB Mobile and BIMB Web’s intuitive interface and advanced functionality now support fully online account opening, instant applications and seamless account management. Additional security features have been implemented, strengthening protection against cyber threats and malware to safeguard users’ financial data. Upholding our Islamic banking values, the platforms also integrate sadaqa contributions, zakat payments, Tabung Haji transactions, and prayer time reminders. I am pleased to highlight that since its launch, BIMB Mobile has reached more than 1.3 million registered users and recorded more than 41 million transactions. As digital banking continues to evolve, we remain committed to enhancing user experience, expanding functionality, and maintaining industry-leading security standards to ensure our products set new benchmarks in technical excellence. Sustainability remained our key priority, with green energy financing exceeding our initial 2025 target of RM4 billion ahead of schedule. As a result, we have raised our sustainability financing goal to RM28 billion by 2025, encompassing a broader portfolio covering renewable energy, waste management, public infrastructure, and education financing. ESG-aligned transactions accounted for 80% of our investment banking activities, while the Treasury division also exceeded its 2024 target, attaining RM7.54 billion in UNSDG-linked Sukuk exposure. The successful launch of BIMB Mobile and BIMB Web in November 2024 reinforces our position as a leader in Islamic digital banking. 21 w w w . b a n k i s l a m. c o m 01 02 KEY MESSAGES 03 04 05 06 07 08 09
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