DESPITE its sterling performance,
In its note yesterday, the research house said total income for the 12 months of 2013 was below its expectation by 2.3 per cent but nonetheless loan loss provision was lower than its forecast and that brought net profit to be within expectation.
The bank achieved all the 2013 key performance indicator targets and domestic loan continue to grow above industry rate while growth in Islamic banking income was subdued in 2013.
"Overseas operation contributed 6.6 per cent to 2013 group pre-tax profit, which is higher than 6.4 per cent in 2012. Margin pressure on interest income is expected to continue," MIDF told investors.
Most Popular Stories
- Koch Brothers Step up Anti-Obamacare Campaign
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- Elizabeth Vargas' Husband Marc Cohn Addresses Rumors
- Quiznos Files for Chapter 11
- Keurig Adds Peet's coffee, Alters Starbucks deal
- U.S. to Relinquish Gov't Control Over Internet
- FDIC Sues Big Banks Over Rate Manipulation
- U.S. Consumer Sentiment Falls in Early March
- Vybz Kartel Convicted of Murder
- SoCalGas Reaches Record Spend on Diversity Suppliers