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MBSB Launch New Branch In Kemaman, Terengganu

BackOct 30, 2008

Yang Berbahagia Tan Sri Abdul Halim Ali, Chairman of MBSB launched MBSB newest branch in Kemaman, Terengganu today, marking a total of 28 branches in operation throughout Malaysia.


The opening of MBSB Kemaman is in line with the company's expansion program to open more new branches this year. MBSB has opened three branches in the first quarter of 2008 in Taiping, Kangar and Sandakan. Before end of the year 2008, two more branches will be launched in Sitiawan and Tawau.


According to Tan Sri Abdul Halim, the opening of the new branches demonstrates the Group's commitment to further enhance it's activities and to serve its customers in Kemaman and its surrounding areas. He added, "The present management of MBSB is focusing its business in retail sector while maintaining our core business in property financing. This is in line with MBSB corporate vision on enhancing its shareholders value."


During the launching, Tan Sri Halim also announced the growth of MBSB Islamic banking operations, which registered encouraging growth of 12.7% from December 2007 until September 2008.


For the first quarter of year 2008, MBSB have achieved RM19.6 million profit before  tax  compared  to only RM 4.86 million for the first quarter last year. For



the second quarter this year, MBSB have gain a profit before tax of RM33.8 million.


Apart from its core business in property financing, MBSB is also going strong in the Personal Financing segment and corporate loan emphasizing on small-scale development. In addition, MBSB continuously developing new Islamic products as well as collaborating with strategic alliances.


MBSB is also seriously looking into series of transformation initiatives as being part of GLCs. A few initiatives have been implemented to drive the business as per GLCs guidelines. Among others, MBSB is embarking on integrated purchasing for bulk discounts and outsourcing option as means of saving further its operation cost coupled with increasing efficiency on its internal process.