Kuala Lumpur, July 31, 2024 – Kuwait Finance House (Malaysia) Berhad (KFHMB) today announced its financial results for the year ended 31 December 2023. KFHMB recorded a profit before tax (PBT) of RM88.1 million, an improvement of approximately 22.7% over the previous year. This was achieved on the back of a revenue of RM371.6 million, an increase from RM364.9 million in 2022.

The year also saw a strong expansion in the Group’s total assets, which grew to RM7.6 billion from RM7.1 billion in 2022. Net assets per share increased by 5.08%, rising to RM1.24 billion from RM1.18 billion in 2022.

Moreover, KFHMB is in a strong position, with the Common Equity Tier 1 (CET1) or Tier 1 Capital Ratio improving to 47.45%, up from 41.09% in 2022. Similarly, the Total Capital Ratio increased to 48.56% from 42.19%, substantially exceeding regulatory requirements.

Acting Chief Executive Officer and Senior Vice President, Corporate Banking of KFHMB, Ida Aizun Husin said, "Our liquidity position remains exceptionally strong, with liquid assets of RM3.9 billion as of the end of 2023, reflecting our prudent financial management and strategic focus on maintaining a strong cash reserve. This robust liquidity not only supports our operational requirements but also positions us well to meet our commitments to customers and stakeholders efficiently.”