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PIDM posts RM575m surplus

April 17, 2018 12:48 PM
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PETALING JAYA: Perbadanan Insurans Deposit Malaysia (PIDM) has reported a total income of RM575.4 million last year with an operational net surplus of RM463 million, increasing its total funds and reserves to RM3.6 billion.

PIDM is a statutory body that provides protection against the loss of deposits and insurance or takaful benefits with its member institutions in the event of a failure.

PIDM said it will be carrying out resolution planning pilot exercises for selected pilot banks.

“This follows from the first phase of recovery and resolution plans, which involves the recovery planning pilot exercise by Bank Negara Malaysia for selected pilot banks that was launched in July 2017,” it said in a statement today.

PIDM said it will engage with member institutions and financial safety net players throughout the resolution planning process, noting it has enhanced its stakeholder engagement strategy for more effective collaboration among its key stakeholders.

Source: thesundaily.my

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