Juniper
MBSB Berhad (MBSB or the Group) has held its 55th Annual General Meeting (AGM), presenting progress updates of its three-year transformation roadmap, FLIGHT26. Since its launch in 2024, 30 of 38 programmes have been completed, alongside 24 of 27 post-merger integration initiatives with MIDF, marking strong strides in consolidation, system harmonization, and delivery.
FY2024 was the first full year of contribution from MIDF, with revenue up 31%, driven by a 27% rise in funded income and a 318% jump in non-funded Income, excluding one-off acquisition gain in 2023. Profit before tax grew 5% on the back of portfolio expansion and tighter cost controls. Funding quality improved, with the CASA ratio surpassing double digits and a better product mix contributing to customer stickiness.
Key Financial Highlights (FY2024):
- Total Financing reached RM43 billion
- CASA ratio rose to 11.1%, surpassing double digit for the first time
- Cost-to-Income Ratio improved to 54.9%
- ROE recorded at 4.2%
The Group’s efforts to rebalance deposits via tiered CASA and term investments are gaining traction, enhancing both funding stability and customer engagement. MBSB also upgraded its MJourney digital banking platform and expanded its consumer banking line up in 2025.
New Consumer Bank Offerings:
- Launched Unit Trust powered by iFAST platform
- Reintroduced Auto Financing-i
- Launched WorksForMe Payroll solutions
- Introduced digital gold platform, PrimeGold-i
- Launched MShield takaful
On the commercial front, MBSB launched new tools and financing solutions tailored to SMEs across sectors.
New Commercial Banking & SME Initiatives:
- Launched Retailer Dashboard, for automation in payment reconciliation
- Introduced BAYO Pay for construction sector payroll, driving financial Inclusion
- Launched RM1 billion Aerospace Financing
- Launched M-Property Financing
- Deepened tie-ups with SME associations
The Group also advanced its sustainability agenda, mobilizing RM4.73 billion in green andntransition finance (47% of 2026 target), reducing emissions by 12%, and contributingn6,000+ volunteer hours.
Industry Recognitions:
- Highest PAT Growth for Financial Institution under RM10 billion market cap (The Edge)
- Best Domestic M&A Deal for MBSB’s acquisition of MIDF (Alpha Southeast Asia)
- Excellence in Islamic Financial Services under the Industry Excellence Awards Category (MINDA)
Looking ahead, the focus is on scaling fee income, lowering funding costs, and expanding in strategic areas, anchored by digital growth and a commitment to inclusive, ethical banking.
“As we enter Year Two of FLIGHT26, our focus is clear, which is to drive execution with discipline, unlock synergies from the MIDF integration, and scale new areas of growth. We are building not just a stronger financial group, but a more agile and inclusive one that delivers lasting value to our stakeholders.” said Dato’ Wan Kamaruzaman, Group Chairman of MBSB.
