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Bank Islam Integrated Annual Report 2024

BIMB INTEGRATED ANNUAL REPORT 2024 1
Inside Our Report 4
OVERVIEW OF BANK ISLAM 6
Overview of Bank Islam 6
WHO WE ARE 6
VISION 6
MISSION 6
OUR BRAND PROMISE 6
TAAT VALUES | HIGHLIGHTS 6
2024 Key Highlights 6
BUSINESS HIGHLIGHTS 6
SUSTAINABILITY HIGHLIGHTS 6
Our Presence 7
How We Are Structured: Group Corporate Structure 8
Awards and Recognitions 9
Our Products and Services 10
Our Competitive Advantage 10
Significant Events 2024 11
KEY MESSAGES 17
Chairman’s Letter 17
From the Desk of the GCEO 22
Financial Review by the GCFO 29
VALUE CREATION AT BANK ISLAM 32
Our Integrated Approach to Value Creation 32
Our Value Creation Business Model 34
Stakeholder Engagement and Value Creation 37
MANAGEMENTDISCUSSION ANDANALYSIS 44
STRATEGIC REVIEW 44
Operating Environment 44
ECONOMIC REVIEW AND OUTLOOK 2024 44
BANKING SECTOR REVIEW AND OUTLOOK 45
KEY MARKET TRENDS SHAPING OUR BUSINESS 46
Material Matters 52
Key Risks and Mitigations 59
Our Strategic Roadmap: LEAP25 66
Strategic Performance Review 68
Placing Digital at the Core 78
PERFORMANCE REVIEW 86
5-Year Financial Summary 86
5-Year Financial Highlights 87
Financing by Contract 88
Segmental Analysis 88
Simplified Statements of Financial Position 89
Statement of Value-added and Distribution 90
Quarterly Performance 90
Financial Calendar 91
Investor Information 92
BUSINESS REVIEW 95
Group Retail Banking 95
Group Institutional Banking 102
SUSTAINABILITYSTATEMENT 110
Sustainability Statement 110
Sustainability Governance 118
Managing Our Climate Risks and Opportunities 128
Sustainable and ResponsibleFinance 139
Emissions and EnvironmentalImpact 146
Employee Well-Being, Healthand Safety 150
Talent and Development 161
Diversity, Equity and Inclusion(DEI) 169
Community Empowermentand Social Finance 174
Good Governance and Conduct 181
Data Privacy and Security 184
Performance Data 186
LEADERSHIP 188
Corporate Information 188
Board Composition 190
Board of Directors 191
Board of Directors’ Profile 192
Shariah Supervisory Council’s Profile 201
Management Team’s Profile 204
Heads of Subsidiaries’ Profile 212
Organisation Structure 213
ACCOUNTABILITY 214
Corporate Governance Overview Statement 214
Board Audit & Examination Committee (BAEC) Report 239
Statement on Risk Management and Internal Control 246
Additional Compliance Information 265
FINANCIAL STATEMENTS 266
Directors’ Report 267
Statement by Directors 274
Report of the Shariah Supervisory Council 275
Statutory Declaration 281
Independent Auditors’ Report 282
Statements of Financial Position 286
Statements of Profit or Loss 287
Statements of Other Comprehensive Income 288
Consolidated Statement of Changes in Equity 289
Statement of Changes in Equity 290
Statements of Cash Flow 291
Notes to the Financial Statements 294
Pillar 3 Disclosure 430
ADDITIONAL INFORMATION 493
Shareholdings’ Analysis 493
Properties Owned by Bank Islam 496
Directory of Main and Regional Offices 497
Ar-Rahnu Branches 501
SME Hubs 503
Bureau de Change 504
Vehicle Financing Sales Hubs 505
Subsidiaries of Bank Islam 507
GRI Content Index 508
TCFD Index 512
Notice of the 42nd Annual General Meeting 513
Statement Accompanying Notice of the 42nd Annual General Meeting 519
Administrative Guide 524
Abbreviation 531
Glossary 534
Form of Proxy 537

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