MBSB Group has announced its financial results for the third quarter ended 30 September 2024, reflecting steady growth across key financial metrics. The results highlight the Group's disciplined approach to navigating a dynamic operating environment while maintaining its focus on sustainable growth and operational efficiency.

For the nine months ended 30 September 2024, MBSB Group recorded revenue of RM2.8 billion, an improvement from RM2.1 billion during the same period last year, reflecting a strong 33% year-on-year increase. This growth was driven by a combination of funded and non-funded income. Funded income reached RM1.1 billion, an increase of RM298 million from the previous year, supported by higher financing income and treasury income. Meanwhile, non-funded income saw a significant rise to RM145 million, up from RM37 million, attributed to improvements in advisory services, fee income, gain on financial investments and contributions from MIDF.

MBSB Group achieved an improved net profit margin of 2.55% compared to 1.96% in the same quarter last year, showcasing the Group's effective revenue and cost management strategies. The cost-to-income ratio (CIR) for the period under review was 55.4%, an improvement as compared to 57.6% in the same period of last year.

The Group's pre-provision operating profit grew by 56% year-on-year, rising from RM353 million in 9M 2023 to RM552 million in 9M 2024, driven by better yields and efficient cost management.

Profit after tax increased to RM255 million, a 34% improvement from RM191 million in 9M 2023, with robust performance across all business segments.