FY2023 M25+ Progress: Enhancing Digital Banking
Income Statement for Insurance and Takaful Business
RM million
1Q FY2023
1Q FY2022
(Restated)
YOY
4Q FY2022
(Not Restated)
QoQ
Net interest income
Insurance/takaful service result
Net earned premiums
410.7
348.7
17.8%
409.8
0.2%
(69.4)
(101.6)
(31.7)%
2,094.1
Other operating income
328.7
(330.0)
(>100)%
502.6
(34.6)%
Total operating income
669.9
(82.9)
(>100)%
3,006.5
(77.7)%
Net insurance/takaful investment/finance result
(406.7)
260.2
(>100)%
Net insurance benefits and claims incurred, net fee and commission expenses,
change in expense liabilities and taxation of life and takaful tax
(2,531.5)
Net operating income
263.3
177.4
48.4%
474.9
(44.6)%
Overhead expenses
(66.5)
(65.5)
1.5%
(275.0)
(75.8)%
PPOP
196.8
111.9
75.9%
200.0
(1.6)%
Net impairment losses
Operating profit
42.4
(95.9)
(>100)%
(1.5)
(>100)%
239.2
16.0
> 100%
198.5
20.5%
Restated 1QFY2022 comparative information as MFRS 17 has replaced MFRS 4 Insurance Contracts for annual periods on or after 1 January 2023
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