Headline Key Performance Indicators for 3rd Quarter 2008
Malaysia Building Society Berhad ("MBSB" or "the Company") would like to announce its achievement for the 3rd quarter 2008 as compared to the 2008 Headline Key Performance Indicators ("KPIs")
Announcement Details :
HEADLINE KPIs
On 14 June 2007, the Company had announced the Forward Looking Headline KPIs for 2007 to 2009. These KPIs have been set and agreed by the Board of Directors and Management of the Company as part of the broader KPI framework that the Company has in place, as prescribed under the Government Linked Company ("GLC") Transformation program and is disclosed on a voluntary basis.
It should be noted that these headline KPIs are targets or aspirations set by the Company for the respective years as a transparent performance practice. The KPIs should not be construed as estimates, forecasts or projections of the Company or representations of any future performance, occurrence or matter as the headlines are merely a set of targets or aspirations of future performance aligned to the Company's strategy.
MBSB'S ACHIEVEMENT TO HEADLINE KPIs FOR THE 3RD QUARTER 2008
The achievements of the Group (based on the unaudited financial results for the financial period ended 30 September 2008) as compared to the Headline KPIs for 2008 are set out in Table 1.
The annualised Group net return on equity based on the unaudited Group results for the nine (9) months financial period ended 30 September 2008 exceeded the Headline KPI mainly due to increase in net interest income and improvement in loan recoveries followed by the Company's focus in managing the growth of retail loans.
| TABLE 1 |
2008 Headline KPIs
|
3rdQtr 2008
9 months Unaudited Group results
|
| 1. Group net return on equity (maintaining a minimum return on equity of 7%) |
7.5%
|
* 12.34%
|
| 2. Group revenue growth |
15.0%
|
* 13.26%
|
| 3. Retail loans growth |
25.0%
|
** 14.19%
|
* Annualised.
** Based on net retail loan balance at 30 September 2008 compared to balance at 31 December 2007.
