BIMB posts higher Q1 pre-tax profit

BIMB Holdings Bhd registered a profit before zakat and taxation (PBZT) of RM167.3 million for the first quarter ended
March 31, 2012, 16.2 per cent higher compared to the previous corresponding quarter's RM143.9 million.

Its revenue increased to RM582.866 million from RM486.493 million.

Its
group managing director/chief executive officer, Johan Abdullah said
the higher profitability was achieved on the back of higher net income
growth of 22.2 per cent or RM81.6 million.

This was partly
offset by the higher operating overheads of RM46.2 million and higher
allowance for impairment on financing and other assets (including
provision for contingent liability) of RM12.6 million.

In
addition to the net growth of quality financing and advances for the
quarter by RM719.8 million or 5.1 per cent (which is equivalent to an
annualised growth of 20.3 per cent), the group was able to further
improve its asset quality as gross impaired financing ratio improved
from 2.61 per cent as at Dec 31, 2011 to 2.29 per cent as at March 31,
2012.

BIMB said its capital adequacy remained at healthy
level with a core capital ratio of 14.38 per cent, while risk weighted
capital ratio stood at 15.60 per cent. -- Bernama

potential upside 2.62 , notifying sifu max

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sedap as expected and was a good one, hoosey la all BC ppl

Cals wrote:potential upside 2.62 , notifying sifu max

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how u know 2.62 so chun man..but now down already [You must be registered and logged in to see this image.]

if tomorrow opens above 2.55 and stays above this mark till 2.62 we have bullish confirmation R1

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opens as expected

explosive

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wow close above R1 2.62 , shall analyse