KUALA LUMPUR, Sept 26 — Bank Simpanan Nasional (BSN) posted a net profit after tax and zakat (tithe) of RM133.8 million in the first half ended June 30, 2019, up 119.7 per cent, from RM60.9 million in the same period last year.
The positive growth was underpinned by a 14.5 per cent increase in revenue to RM1.04 billion from RM906.7 million over the same period, the bank said in a statement today.
It said financing was up by 11.2 per cent, mainly in the Personal Loan segment, which recorded a growth of 9.8 per cent, followed by Real Estate Financing which grew 9.0 per cent.
BSN said deposits also increased 9.8 per cent through products such as the Premium Savings Certificate, Student Savings Scheme and BSN Smart Junior.
Non-Performing Loans decreased to 1.53 per cent from 1.60 per cent last year, while Return on Equity increased to 11.28 per cent from 8.86 per cent.
On micro financing, BSN still leads the Malaysian market ahead of another 10 banking institutions, with a 41.8 per cent market share.
BSN’s micro financing, launched in 2007, has grown to over 64,000 customers as at June 2019 with a total funding of RM1.7 billion from merely 320 customers with a total funding of RM5 million in the first year of its introduction.
“We are always committed to providing an integrated financial services platform that is easily accessible to our customers,” BSN chief executive Datuk Yunos Abd Ghani said.
BSN has 38 Micro Finance Centres nationwide and has created the “Micro Finance Entrepreneur Analytics Pilot Project” accounting system jointly with UiTM to provide accounting solutions to selected micro entrepreneurs and INSKEN development programme for technical training and enhancing business and marketing knowledge.
So far, BSN has 390 branches, 728 automated teller machines, 397 cash deposit machines and over 4,500 registered bank agents nationwide. Sixty-four per cent of its bank agents are located in rural areas and 36 per cent in urban areas.
Bank agents, which were introduced in 2012, have provided banking services covering 97 per cent of the total 886 mukim (counties) in Malaysia. — Bernama
