Malaysia Building Society Berhad announced its financial results for the year ended 31 December 2023 (FY23) demonstrating resilience with a Profit After Tax of RM491.81 million representing a growth of 7% or RM31.62 million compared to RM460.19
million in the previous year.
The Group’s financing grew by 9% or RM3.48 billion to RM42.04 billion mainly contributed by an expansion in commercial financing and retail financing. Meanwhile, the Group’s customer deposits increased by 30.58% or RM11.16 billion to RM47.62 billion year-on-year (y-o-y). The Group’s total assets stood at RM66.66 billion as at 31 December 2023, a 21.3% increase y-o-y.
Commenting on the results, MBSB’s Group Chief Executive Officer, Rafe Haneef said, “Although it was a challenging year, the Group made progress by growing its financing by 9% in 2023 mainly contributed by our commercial and retail businesses.”
He also shared, “Our moving forward plan will focus on expanding CASA, financing base, non-funded income as well as optimising our cost. We have established a set of transformative programmes that will run for three (3) years that is designed towards achieving these missions and ultimately improve our ROE.
