BIMB Holdings Bhd's pre-tax profit for the third quarter ended Sept 30, 2013 rose to RM196.69 million from RM178.36 million
in the same quarter of last year.

Revenue increased to RM696.03 million from RM641.59 million previously.

In a filing to Bursa Malaysia, BIMB Holdings said the better results were derived from higher operating results and an improvement in allowances for impairment on financing and advances, investment and other assets, as well as the non-recurrence of provision for contingent liability.

BIMB Holdings Group managing director and chief executive officer Johan Abdullah in a statement today said: "BIMB Holdings' consolidated net profit for the period under review stood at RM424.4 million, recording a growth of RM65.5 million or 18.2 per cent, compared to the same period last year.

"In tandem with the higher profitability, the net profit attributable to the shareholders of the company increased by RM35.5 million or 19.3 per cent."

The group registered net financing growth of RM3.1 billion or 15.7 per cent for the nine months period under review, as asset quality improved further with a gross impaired financing ratio of 1.39 per cent as at September 30, 2013 (as at December 31, 2012: 1.55 per cent).

The total capital ratio of Bank Islam Malaysia Bhd remained healthy at 14.18 per cent.-- Bernama