Malaysia Building Society 2017 AR2
The report highlights Malaysia Building Society Berhad's (MBSB) strategic transition towards becoming a full-fledged Islamic financial institution in 2017, marked by the landmark acquisition of Asian Finance Bank Berhad (rebranded as MBSB Bank Berhad). Financially, the Group achieved a 62.7% increase in profit before tax to RM550.73 million, driven by lower impairment allowances and reduced funding costs. MBSB also advanced its digital roadmap with the launch of its SMART Big Data Platform and expanded its green financing portfolio, including a RM247 million Islamic financing facility for a solar farm in Seremban. Additionally, the Group strengthened its Shariah governance and compliance frameworks to support its new banking platform.
Company: Malaysia Building Society
Sector: Finance & insurance
Country: Malaysia
Year: 2017
Type: AR2
Pages: 104
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Malaysia Building Society
Annual Report
The report highlights Malaysia Building Society Berhad's (MBSB) strategic transition towards becoming a full-fledged Islamic financial institution in 2017, marked by the landmark acquisition of Asian Finance Bank Berhad (rebranded as MBSB Bank Berhad). Financially, the Group achieved a 62.7% increase in profit before tax to RM550.73 million, driven by lower impairment allowances and reduced funding costs. MBSB also advanced its digital roadmap with the launch of its SMART Big Data Platform and expanded its green financing portfolio, including a RM247 million Islamic financing facility for a solar farm in Seremban. Additionally, the Group strengthened its Shariah governance and compliance frameworks to support its new banking platform.
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Document Details
Report Year
2017
Reporting Period
Jan 1, 2017 - Dec 31, 2017
Fiscal Year
2017
Type
Annual Report with Sustainability Disclosures
Language
English
Pages
File Size
Standards & Assurance
Reporting Standards
Materiality Assessment
ESG Data?Experimental: AI-extracted data, may contain inaccuracies
No data available