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4-Traders Homepage  >  Equities  >  SINGAPORE EXCHANGE  >  Oversea-Chinese Banking Corp. Limited    OCBC   SG1S04926220

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Oversea Chinese Banking : OCBC Al-Amin Pre-Tax Profit Soars To RM172 Million

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05/03/2016 | 06:01am CEST

OCBC Al-Amin Bank Bhd's (OCBC Al-Amin) pre-tax profit for the financial year ended Dec 31, 2015 surged 97 per cent to RM172 million from RM87 million in 2014.

OCBC Al-Amin Chief Executive Officer Syed Abdull Aziz Syed Kechik said the strong growth in 2015 was largely due to higher financing income from gross financing and advances, which grew eight per cent to RM10.2 billion.

"This is supported by an increase in customer deposits which grew two per cent to RM10.2 billion," he said in a statement.

Syed Abdull Aziz also said the wholly-owned Islamic banking subsidiary of OCBC Bank (Malaysia) Bhd worked extensively during the year to market Islamic financing and cash management solutions, including a new Syariah-compliant unit trust.

Moving forward, Syed Abdull Aziz said the bank would continue to build its capacity in the Islamic Banking wholesale and retail segments, and reinforce its existing strong network of distribution channels to acquire new customers.

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(c) 2016 Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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