Bank Perusahaan Kecil dan Sederhana Malaysia Bhd’s (SME Bank) five Year Transformation Roadmap implemented in July 2010 is yielding the desired results, going by its latest performance figures.
For the financial year ended December 31, 2010, the Bank reported a loss after tax of RM71 million in spite of attaining Operating Profit of RM63 million. This was mainly due to increased provisions as a result of higher impaired loans attributed to the Bank’s first-time adoption of the new accounting standard “FRS 139” in 2010……………………………………….Full Article: Source