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Wednesday, January 29, 2014

MBSB FY13 earnings up 33.7% to RM597m


It said on Tuesday its revenue increased by a stronger pace of 37% to RM2.51bil from RM1.83bil. Profit before tax for FY13 of RM932.35mil, was 42% higher from RM656.22mil in FY12.
It rewarded shareholders with a single tier final dividend of 5%. Based on the enlarged number of shares of 2.621 billion shares (including the rights shares of 873.929 million) the final dividend payable would be RM131.09mil.
MBSB said its gross income from personal financing was higher due to the growth of personal financing portfolio.
As for mortgage loans and financing, the gross income was slightly lower mainly due to lower disbursement in FY13.
MBSB said gross income from corporate loans and financing were higher due to higher disbursements and lower individual assessment impairment allowance for the current year due to settlement of impairment accounts.
For the fourth quarter ended Dec 31, 2013, its earnings fell 27.2% to RM133.55mil from RM183.60mil. Its revenue, however, increased by 42.6% to RM695.47mil from RM487.52mil. Earnings per share were 7.66 sen compared with 7.40 sen.

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