| James Kon |
UNDERSCORING its commitment to deliver better returns to shareholders, Bank Islam Brunei Darussalam (BIBD) yesterday announced a record high dividend of 14.7 cents per ordinary share for the year ended December 31, 2016, more than double the amount it distributed in the previous year.
BIBD, the largest financial institution in Brunei Darussalam in terms of assets, financing and deposits, paid out a dividend of 7.3 cents in the previous fiscal.
The achievement was highlighted in BIBD’s 2016 annual report which was presented to its shareholders in the Annual General Meeting (AGM) held at Universiti Brunei Darussalam’s Chancellor Hall yesterday.
The record high dividend came on the back of double digit growth of the bank’s net profit after Zakat and taxation as well as its total assets for the financial year 2016. The bank’s net profit grew 21 per cent to B$122 million while the total assets surged 28 per cent to B$9 billion.
Commenting on the bank’s record results, Dato Seri Setia Awang Haji Bahrin bin Abdullah, Chairman of BIBD Board of Directors who is also Minister of Development, said, “Alhamdulillah, BIBD’s strong fundamentals have enabled the bank to continue delivering value for our shareholders amid global economic headwinds.”
Dato Seri Setia Haji Abdul Aziz bin Orang Kaya Maharaja Lela Haji Mohd Yusof, Permanent Secretary at the Ministry of Religious Affairs and Chairman of BIBD Syariah Advisory Body; Mubashar Khokhar, Managing Director of BIBD; and members of the board at the meeting. – JAMES KON
He added that “the bank’s sustained performance also reflects the nation’s ongoing economic diversification efforts on non-energy industries such as financial services, aligning us closer towards Brunei Vision 2035”.
Mubashar Khokhar, Managing Director of BIBD; Dato Seri Setia Haji Abdul Aziz bin Orang Kaya Maharaja Lela Haji Mohd Yusof, Permanent Secretary at the Ministry of Religious Affairs and Chairman of BIBD Syariah Advisory Body; BIBD board members; and members of the Syariah Advisory Body were also present.
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