Malaysia Building Society Berhad (“MBSB” or “the Company”) would like to announce its achievement for the 2nd quarter 2014 as compared to the 2014 Headline Key Performance Indicators (“KPIs”).
HEADLINE KPIs
The Company would like to announce the target Headline KPIs for 2014 as set out in Table 1. These KPIs have been set and agreed by the Board of Directors and Management of the Company as part of the broader KPI framework that the Company has in place, as prescribed under the Government Linked Company (“GLC”) Transformation program and is disclosed on a voluntary basis.
It should be noted that these headline KPIs are targets or aspirations set by the Company for the respective years as a transparent performance practice. The KPIs should not be construed as estimates, forecasts or projections of the Company or representations of any future performance, occurrence or matter as the headlines are merely a set of targets or aspirations of future performance aligned to the Company’s strategy.
HEADLINE KPIs FOR THE 2ND QUARTER 2014
The Group net return on equity growth has exceeded its Headline KPI. This was mainly due to higher income from Islamic banking operations and conventional business from the expansion of personal financing and corporate business. This was further aided by reduction in allowance for impairment losses on loans, advances and financing.
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TABLE 1
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Target 2014 Headline KPIs
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2nd Qtr 2014
6 Months Unaudited Group Results
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1. Annualised group net return on equity
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15.0%
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27.6%
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2. Annualised group revenue growth
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10.0%
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5.6%
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This announcement is dated 14 August 2014.
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