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Islamic banking drives MBSB 1H profits

Posted on 07 September 2012

Malaysian Building Society Berhad (MBSB) posted strong growth with a pre-tax profit of RM233 million, an increase of 18 per cent or RM36 million from RM197 million for the same period last year. The improved financial results were mainly due to the increase in net income from Islamic banking operations especially in the retail segment.
“The growth in revenue from the retail segment is mostly attributed to the good response from customers towards MBSB’s personal-financing-i “transfer package” launched early this year and extended into the second quarter which enabled customers to refinance their borrowings with our lower costs of personal financing-i and at a 100 percent disbursement payout,” said Datuk Ahmad Zaini Othman, MBSB’s President and Chief Executive Officer recently………………………………………..Full Article: Source

 
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