KUALA LUMPUR, March 29 ― Bank Negara Malaysia’s (BNM) total assets increased to RM619.04 billion as at December 31, 2022, as compared with RM551.61 billion the year before,...
KUALA LUMPUR, March 29 ― Bank Negara Malaysia’s total assets increased to RM619.04 billion as at December 31, 2022, as compared with RM551.61 billion the year before, with RM503.33 billion of international reserves portfolio constituting the bulk of the assets.
“In 2022, we generated a total income of RM8.51 billion , net of costs associated with managing the international reserves portfolio and conducting monetary operations,” it said. This includes expenditures incurred for the bank’s currency operations and to maintain the country’s wholesale payment infrastructure.
The lower net profit was due to weaker investment returns on the back of significant challenges and volatilities in the international financial market amid aggressive interest rate hikes in advanced economies that led to lower valuations, the military conflict in Ukraine and concerns over prolonged lockdown in China.Of the total net profit in 2022, RM4.23 billion will be transferred into its Risk Reserve .
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