Exim Bank aims for Islamic business growth

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With its Islamic business picking, Export-Import Bank of Malaysia Bhd (Exim Bank) plans to achieve 30% growth in its Islamic loans and financing business in 2015, its Managing Director and CEO Datuk Adissadikin Ali said. The bank’s third year operations in Islamic banking saw a strong asset growth of 54% amounting to RM534 million of gross advances and financing compared to RM246 million in 2011. For the year ended Dec. 2012, the bank’s pretax profits rose 16% to RM169.7 million from RM146.4 million in 2011, mainly driven by improved performance of overall banking business, other operating income and Islamic business, with lower allowances on loans. Total assets of the bank expanded 16% to RM7.3 billion, underpinned by robust net loans and financing growth of 62% while gross and net impaired asset ratio declined to 19.2% and 9.7 respectively, compared to 25.5% and 12.9% in 2011.

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