There was a 65.3% rise in the PBZT of the “others” segment - comprising investment holding, currency trading, ijarah financing, stockbroking and unit trust - to RM213.42mil.
While 2015 performance was poor, the actions we took on capital throughout last year and in particular in December have positioned us strongly for the current macro environment. We have a balance sheet that is resilient and we are in the right markets.
The result, depressed in part by the rising cost of bad loans to oil and gas companies, marks a setback to Chief Executive Officer Stuart Gulliver’s efforts to bolster profitability and reverse a share slump.
Experts tracking the companies said while Accenture and Capgemini have made significant headway in India over the past few years, they still trail IBM, which dominates the local outsourcing market, especially in the telecom sector, with large contracts fr