Thursday, 20 February 2020,   25 Jamadilakhir 1441H


Community bank remains operationally profitable with positive trend for the past 5 years

Kuala Lumpur, 15 May 2012 
– Bank Simpanan Nasional (BSN) today announced its 2011 financial highlights and reported a registered revenue of RM1,457 Million against RM1,294 Million in 2010 representing a 12.6 % year-on-year (“Y-o-Y”) growth. The Bank also declared a positive increase in its net income of RM1,032 Million in 2011 compared to RM968 Million in 2010. Despite the challenging business environment in 2011, the community bank recorded its highest PATZ (Profit After Tax & Zakat) of RM361 Million.

Loans, advances and financing were the main contributors to the significant growth of its total assets in 2011 which grew 10.1% from the previous year. Personal Loans remain the main contributor for the increase in loans and advances portfolio. Personal Loans recorded an increase of 12.5% while Mortgage and Micro Finance recorded a positive growth of 5.3% and 18.0% respectively.

In line with the Bank’s mandated role to inculcate savings, the Bank registered a steady increase in its total deposits to RM19,585 Million from RM17,908 Million in 2010; a growth of 9.4%. Its retail deposits also increased to RM10,445 Million compared to RM9,788 Million in the previous year, mainly contributed by GIRO, Sijil Simpanan Premium, BSN GIRO–i and BSN Ahsan.

According to Datuk Adinan Maning, Chief Executive of BSN, “The Bank’s sound financial results for 2011 are a validation of its effective organic growth strategies and sustainable business model. A lot of plans have come to fruition for BSN as it focuses on being sustainable and operationally profitable while ensuring financial inclusion for all in Malaysia, especially those under served and in rural areas. BSN’s role in serving the community, especially in the rural areas, is vital to elevate the standard of living of the Rakyat.”

In 2011, its Islamic banking portfolios recorded a revenue of RM618 Million, an increase of 18.2% compared to RM523 Million in 2010. Its 2011 financial year registered a PAZ (Profit After Zakat) of RM190 Million compared to RM185 Million in 2010.

BSN’s greatest assets are its continuous emphasis on proximity, accessibility and maintaining a long-standing relationship with its customers. BSN has a wide network nationwide to meet its objectives for financial inclusion with 390 branches, 962 automatic teller machines (ATM) and 213 Cash Deposit Machines (CDM) as at March 2012. BSN has also a total of 58 Micro Finance Centers and 4 new social branches which began operations in Belaga (Sarawak) and Beluran, Kinabatangan and Telupid (Sabah). The bank is also looking into improving its services and has embarked on its core banking replacement project to ensure efficiency and customers’ satisfaction.

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Media Release