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 4TH QUARTER 2008
The achievements of the Group (based on the unaudited financial results for the financial period ended 31 December 2008) as compared to the Headline KPIs for 2008 are set out in Table 1.
The Group net return on equity and revenue growth exceeded the Headline KPIs. This was mainly due to higher net interest and financing income and other income. The retail loan growth was lower than the Headline KPI due to lower loan applications received in 2008 resulted from slower economic activities.
| TABLE 1 |
2008 Headline KPIs
|
4thQtr 2008
12 months Unaudited Group results
|
| 1. Group net return on equity (maintaining a minimum return on equity of 7%) |
7.5%
|
10.30%
|
| 2. Group revenue growth |
15.0%
|
17.03%
|
| 3. Retail loans growth |
25.0%
|
* 18.32%
|
* Based on net retail loan balance at 31 December 2008 compared to balance at 31 December 2007. |
|
