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Bank Islam sees compressed net income margin this year
by Cals Fri 16 May 2014, 02:09
| Bank Islam sees compressed net income margin this year |
| Business & Markets 2014 |
| Written by Shalini Kumar of theedgemalaysia.com |
| Thursday, 15 May 2014 12:28 KUALA LUMPUR (May 15): Bank Islam's net income margin (NIM) is expected to be slightly compressed in 2014 to slightly below 3%, says BIMB Holdings Bhd Group Managing Director and CEO Johan Abdullah. Bank Islam is a unit under BIMB. Speaking to reporters after BIMB's annual general meeting today, Johan said the margin compression was due to the increasingly competitive market environment. "Usually, we enjoy a margin of 3% and above. However, this year, we expect competition in both the conventional and Islamic banking markets to intensify. "Nevertheless, we foresee the margin to be above the overall industry average of 2.5%," he said. On BIMB's aim to expand into the Indonesian market, Abdullah said BIMB was still "very interested" to enter the market, but had yet to find the right partner. Bank Islam Managing Director Datuk Seri Zukri Samat said it was looking to establish another seven branches by the end of this year. "By the end of 2015, we aim to have a total of 150 branches set up nationwide including Sabah and Sarawak, " he said. |
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