Malaysia Building Society Berhad (“MBSB” or “the Company”) would like to announce its achievement for the 2nd quarter 2011 as compared to the 2011 Headline Key Performance Indicators (“KPIs”).
HEADLINE KPIs
On 25 March 2011, the Company had announced its target Headline KPIs for 2011 as set out in Table 1. 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.
HEADLINE KPIs FOR THE 2ND QUARTER 2011
The Group net return on equity and revenue growth has exceeded the Headline KPIs. This was mainly due to higher income from loans especially personal financing growth and higher other operating income from personal financing activities. These were partly set off by higher operating expenses and higher loan impairment.
| TABLE 1 |
Target 2011 Headline KPIs
|
2nd Qtr 2011
6 Months Unaudited Group Results
|
| 1. Annualised Group net return on equity |
15.0%
|
42.6%
|
| 2. Annualised Group revenue growth |
25.0%
|
63.7%
|
The amendments are on the Table 1. The first paragraph of the 3rd column of the table should be read as 2nd Qtr 2011 6 months Unaudited Group Results.
