BIMB sees net profit drop 13.8% in Q4

PETALING JAYA: BIMB Holdings Bhd registered a 13.8% drop in net profit to RM139.47 million for the fourth quarter ended December 31, 2016 versus RM161.86 million in the same quarter a year ago, mainly due to lower net income contribution from its takaful business.

Revenue declined 3.1% from RM884.26 million to RM856.81 million.

BIMB's full year net profit, however, rose 2.1% from RM547.28 million to RM559.04 million, thanks to higher earnings from both Islamic banking and takaful businesses. Revenue came in at RM3.53 billion, 6.6% higher than the RM3.31 billion it made a year ago.