BIBD net profit surges to record BND169M in 2017

|     James Kon     |

 

BANK Islam Brunei Darussalam (BIBD), the largest financial institution in Brunei Darussalam in terms of assets, financing and deposits, posted a record net profit of over BND169 million last year.

The BIBD Group recorded a net profit of BND116 million during the period which ended on December 31, 2017.

Continuing its commitment to deliver better returns to shareholders, the Islamic bank also announced an interim dividend of BND0.125 per ordinary share for 2017 which will be added to the expected final dividend of BND0.051, returning a total dividend of BND0.176. This will take the total dividend amount to BND127 million, an 11.5 per cent improvement in year-to-year yield from 7.5 per cent for the group. The approved financial statement for 2017 was shared at the BIBD Annual General Meeting (AGM) 2018 held at Tarindak D’Seni yesterday.

Expressing his heartfelt appreciation for the trust and support received from BIBD’s customers, shareholders and other stakeholders, Minister of Finance II and Chairman of BIBD Dato Seri Paduka Dr Awang Haji Mohd Amin Liew bin Abdullah said, “Alhamdulillah, it is another milestone year for BIBD as we continue our progression as Brunei’s leading bank. Our accomplishments are the result of our commitment to our customers and the strong cooperation with our regulators as we continue to play our role in supporting the nation’s ongoing efforts to create a more resilient and robust economy in line with Vision 2035.”

Minister of Finance II and Chairman of BIBD Dato Seri Paduka Dr Awang Haji Mohd Amin Liew bin Abdullah chats with one of the shareholders attending the BIBD Annual General Meeting 2018
Minister of Finance II and Chairman of BIBD Dato Seri Paduka Dr Awang Haji Mohd Amin Liew bin Abdullah with members of the Board of Directors and Syariah Advisory Body as well as BIBD senior management and officials at the BIBD Annual General Meeting 2018. – PHOTOS: JAMES KON

Meanwhile, Managing Director and CEO of BIBD Mubashar Khokhar took the opportunity to congratulate the efforts of the entire BIBD Group for realising another prolific year.

“Alhamdulillah, BIBD is blessed to have such an energetic and dedicated team which is always prepared to overcome challenges posed by the current market conditions. Advancement in digital banking has also allowed us to provide our customers with the very best Islamic banking solutions such as our BIBD NEXGEN.”

Besides the shareholders, the AGM was attended by members of the BIBD Board of Directors and Syariah Advisory Body as well as BIBD senior management and officials.