Mainstream
BIMB seeks to lower cost-to-income ratio
Stephanie Jacob | 14 Sep 2018 00:30
On the heels of delivering a strong set of financial results for the first half of the financial year ending Dec 31, 2018 (H1FY18), BIMB Holdings Bhd (BIMB) is targeting a reduction in its cost-to-income ratio (CIR) as part of plans to continue strengthening its financial position.

BIMB’s CIR stands at 54.8% as at March 31, 2018, and only two of its banking peers have a higher ratio. The majority of the other financial group have ratios in the 40% to 50% region.

In terms of cost to revenue ratio, Public Bank Bhd has the most efficient ratio of 33.6% followed by Hong Leong Bank Bhd at 41.8% as at mid-August.

In comparison, during the same period, BIMB’s cost to revenue stood at 52.2%. In our Focus List published in August, BIMB came up as the third strongest local bank, climbing two notches from 2017.

Bank Islam Malaysia Bhd’s acting CEO Mohd Muazzam Mohamed explains that the group’s CIR is made up of two groups of costs. One is the fixed costs that the bank incurs which includes staff costs, and the other is operating expenses which can be managed and reduced.

Snippets
SUHAKAM's statement on Smoking Ban in all Eateries

SUHAKAM's statement on Smoking Ban in all Eateries


Lazada Malaysia Crushes 2017 11.11 Sales Record

Lazada Malaysia Crushes 2017 11.11 Sales Record in First 9 Hours