Page 48 - Bank Muamalat_AR24

46 BANK MUAMALAT MALAYSIA BERHAD

OUR STRATEGIC DIRECTION

FY2024 STRATEGIC THRUSTS AND PRIORITY FOCUS AREAS

ACCELERATE BUSINESS GROWTH ENABLE ISLAMIC BANK FOR ALL
1 To catalyse growth by transforming core business streams and 2 To diversify our customer base and enhance the range of
expanding into new growth engines financial solutions available across all business segments

2024 Focus Areas: 2024 Focus Areas:
• Accelerate profitability through the expansion of financing, with a • Engage actively with local communities through outreach
strong focus on high-yield portfolios programmes, strategic partnerships, and collaborations
• Expand fee-based income through targeted wealth management • Offer a diverse and inclusive range of financial products and
activities and increased card fees services that appeal to a broader customer base
• Optimise the cost of funding by re-engineering our deposit • Grow our customer base through targeted marketing initiatives
structure towards low-cost deposits, supported by impactful and robust relationship-building efforts to boost financing
campaigns and intensive marketing efforts activities and overall revenue
• Conduct thorough credit assessments and meticulously monitor Key Achievements:
financing portfolios to mitigate default risks and uphold robust
asset quality Active Customer Base Growth:
• Retail customers grew by 13.8% YoY
Key Achievements: • Non-Bumiputera Small and Medium-sized Enterprises (SMEs)
Expansion in Key Business Indicators: financing value constituted 34% of total SME financing.
• Financing growth: 14.1%
• Deposit growth: 11.2%
• Asset growth: 11.8%
• Total revenue growth: 20.4%
• Gross Impaired Financing (GIF): 1.05%
Conducive Partner Ecosystem:
• Successfully launched a co-brand credit card with POS
Malaysia
• Introduced corporate credit solutions with MMC

INNOVATION OPERATIONAL EFFICIENCY
5 To drive the development of innovative products, adopt 6 To automate banking operations and drive significant cost
machine learning capabilities, enhance data analytics, and roll
out new digital banking businesses efficiency
2024 Focus Areas: 2024 Focus Areas:
• Expand our portfolio of digitalised product offerings • Deploy Robotic Process Automation (RPA) solutions to automate
• Continue to build new digital capabilities via Open Application repetitive and rule-based tasks
Programming Interface (API) and cloud infrastructure • Automate key banking processes to improve Turnaround Time
(TAT)
Key Achievements: • Drive cost efficiency by strengthening cost monitoring and
Digital Platform and Product: control mechanisms
• Google x MAP: Successfully completed customer application
processes up to disbursement in August 2024 Key Achievements:
• Launched ATLAS Digital Banking for staff in November 2024 Market Competitive Turnaround:
• Rolled out Phase 1 of the Digital Sales Channel with EON • Achieved a 99.3% TAT for all retail product disbursements
Group in November 2024 in FY2024
Scalable Operations:
• Launched a real-time Liquidity Risk Management (LRM)
Dashboard with five main dashboards in September 2024
• Established a Credit Operations Centre for East Malaysia,
launched in December 2024