increase in total gross income by RM25.3 million (8.3%) to RM329.1 million, mainly driven by a higher fund-based income of RM308.1 million. See pages 84 & 89 for more information. SME Banking strengthened its position as a leading financial solution provider for SMEs by introducing new financing programs such as SME Exporter and SME Smart Eco, increasing our client base and leveraging BNM funding initiatives to promote business recovery, growth, and sustainability. We also engaged in strategic collaborations with partners to expand our market outreach and meet their members' financial needs. In March 2022, we partnered with MIDA to support grant recipients in purchasing machinery and equipment upfront, while in April 2022, we signed an MoU with iPORTAL Live Sdn Bhd to bring our Islamic financial solutions onto a global platform, enabling digital connectivity for all sectors in the Halal Economy. Although the Non-SME segment’s asset contribution decreased to RM5.13 billion, BIMB remains optimistic about its growth potential. Despite an increase in Commercial’s GIF ratio to 2.70%, the Bank’s risk management measures remain proactive, and the Past Due but Not Impaired (PDNI) ratio decreased to 0.14% in December 2022. See page 80 for more information. The Deposits and Cash Management segment delivered strong results, with a significant YoY increase of 18.4% in deposits and investments, totalling RM7.4 billion. The positive growth was largely attributed to the opening of all economic sectors in Q4 2021, which benefited the non-individual segment. Our customer-centric approach in 2022 led us to develop the Virtual Account Opening (VAO) process, in collaboration with eChannels, which facilitated a faster onboarding process for newly opened accounts. Additionally, we registered over 400 FPX merchants, gained 1,076 subscribers via MyPTPTN app, and acquired 14,256 GOBiz subscribers, while achieving 22,096 eBanker Pro subscribers. We also won three awards at the Malaysian ePayments Excellence Awards (MEEA) in April 2022, recognising our commitment to SMEs: Best JomPay Acquirer, Best Direct Debit Bank, and Best Direct Debit Acquirer (Bank). See page 75 for more information. BIMB Investment offers a wide range of Shariah-ESG funds across multiple asset classes and embraces innovation to provide an investment return to its investors. It leverages Arabesque Asset Management’s artificial intelligence (AI) investment tool to identify investable stocks that comply with our Shariah requirements and sustainable investment policy. BIMB Investment has made the Group proud by winning multiple awards and accolades throughout 2022. Amongst others, the fund management arm of BIMB was recognised in the Shariah-ESG space by winning The Edge ESG Awards in two categories, the Alpha Southeast Asia Awards and the Global Business Awards in 2022. Its assets under management (AuM) overall funds of RM1.01 billion and Shariah-ESG Fund of RM745.1 million is a testament to its 28-year commitment to Islamic Fund Management and its focus on Shariah-ESG investing since 2015. The company will continue to intensify its digital business by further enhancing and marketing its BEST app digitally, aiming to offer superior risk-adjusted investment solutions. BIMB Investment’s digital initiatives are aligned with the Group’s digital banking proposition and LEAP25 business strategy. See page 98 for more information. BIMB Securities experienced a 56% decline in revenue generation for the Retail segment due to a decrease in market volume from RM1.399 billion in 2021 to RM0.686 billion in 2022. However, the decline was partially offset by a 4% increase in share margin financing income. To increase market visibility, BIMB Securities expanded stock coverage from 36 stocks in 2021 to 66 in 2022, conducted events and company visits for institutional clients, and hosted weekly webinars and knowledge-sharing sessions for retail clients. The company also introduced the Financial Risk Advisory (FRA) System and digital signatures for the Online Trading Application Form (OTAF). See page 104 for more information. Treasury & Markets recorded growth in FX sales volume and total deposits despite intense competition and margin erosion. While wholesale funding costs contributed to margin compressions, liquidity metrics improved. Fixed income investments and trading activities were conservative, with a passive stance in the first half and cautious reinvestment throughout the year. Sukuk distribution performed well, with the Bank appointed as Lead Manager/Joint Lead Manager for 12 ESG-rated Sukuk distribution deals. The fixed-income team achieved a Top 5 ranking in Bloomberg's Malaysian Ringgit Islamic Sukuk League Table for 2022 and received accolades for Best SRI Sukuk and Best New Sukuk. See page 95 for more information. Leadership Insights Bank Islam Malaysia Berhad 21 01 05 03 07 02 06 09 04 08
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