KUALA LUMPUR: Kuwait Finance House (Malaysia) Bhd (KFH Malaysia) posted a higher pre-tax profit of RM88.1 million for the year ended Dec 31 2023.
This was an improvement of 22.7 per cent over the previous year, KFH Malaysia said in a statement today.
This was achieved on the back of a revenue of RM371.6 million, an increase from RM364.9 million in 2022.
KFH Malaysia said the year also saw a strong expansion in its total assets, which grew to RM7.6 billion from RM7.1 billion in 2022.
Its assets per share increased by 5.08 per cent, rising to RM1.24 billion from RM1.18 billion in 2022.
KFH Malaysia is in a strong position, with the Common Equity Tier 1 or Tier 1 Capital Ratio improving to 47.45 per cent, up from 41.09 per cent in 2022.
Similarly, the bank's total capital ratio increased to 48.56 per cent from 42.19 per cent, substantially exceeding regulatory requirements.
KFH Malaysia acting chief executive officer and senior vice president of corporate banking Ida Aizun Husin said its liquidity position remains exceptionally strong, with liquid assets of RM3.9 billion as of the end of 2023.
"This reflects our prudent financial management and strategic focus on maintaining a strong cash reserve.
"This robust liquidity not only supports our operational requirements but also positions us well to meet our commitments to customers and stakeholders efficiently," she added.