Page 288 - Bank Muamalat_AR24

286 BANK MUAMALAT MALAYSIA BERHAD

NOTES TO THE FINANCIAL STATEMENTS
31 DECEMBER 2024 (29 JAMADIL AKHIR 1446H)

41. TAXATION (CONT’D.)

A reconciliation of income tax expense applicable to profit before taxation at the statutory income tax rate to income tax
expense at the effective income tax rate of the Group and of the Bank is as follows:

Group Bank
2024 2023 2024 2023
RM’000 RM’000 RM’000 RM’000

Profit before taxation 129,316 295,583 128,554 300,756

Taxation at Malaysian statutory tax rate 24% 31,036 70,940 30,853 72,181
Income not subject to tax (533) (141) (3,037) (953)
Expenses not deductible for tax purposes 3,090 2,917 4,370 1,690
Under/(over) provision of income tax in prior years 57 (1,533) 76 (1,472)
Under provision of deferred tax in prior years 700 1,358 152 1,335
Income tax expense for the year 34,350 73,541 32,414 72,781

42. EARNINGS PER SHARE
Group
2024 2023
Basic and diluted RM’000 RM’000

Profit attributable to ordinary equity holders of the Bank (RM’000) 86,141 211,815
Weighted average number of ordinary shares in issue (‘000) 1,195,000 1,195,000
Basic earnings per share (sen) 7.21 17.73

There were no diluted shares at the end of reporting period, accordingly diluted earnings per share is not presented.

43. DIVIDENDS
The Directors did not declare any final dividend for the financial year ended 31 December 2024.