Small Medium Enterprise Development Bank Malaysia Bhd’s (SME Bank) pre-tax profit for financial year ended Dec 31, 2016 rose to RM67 million from RM48 million a year earlier. SME Bank said its earnings also improved to RM109 million in 2016 compared to an accumulated losses of RM607 million in 2010 due to the better performance contributed by its banking operations and better investment results.
“This performance is supported by continued growth from gross income of the Islamic banking business which grew by 15 per cent year-on-year to RM336 million in 2016,” it said.
