Page 171 - EXIM-Bank_Annual-Report-2023

Management Discussion and Analysis Ensuring Sustainability Commitment to Lead Upholding Accountability Financial Statements 169

Notes to the fiNaNcial statemeNts

24. ShArE CAPITAL AND rEDEEMABLE CoNvErTIBLE CuMuLATIvE PrEFErENCE ShArES (cont’d)
(b) Redeemable convertible cumulative preference shares (cont’d)

The key terms are as follows:
Tenure : Based on perpetual from 8 March 2018.

Dividend rate : 4.7% per annum, payable semi-annually in arrears.
Conversion right : Shall not constitute a cancellation, redemption or termination of a RCCPS but will be by way of
variation to the status of, and rights attaching to, the RCCPS so that it becomes an ordinary shares.
The conversion is at the option of the Ministry of Finance (on behalf of the Government of Malaysia).

25. oPErATING rEvENuE
Operating revenue of the Group and the Bank comprises gross interest income, fee and commission income, income from
insurance operation and income from Islamic banking and Takaful businesses.
Group and Bank
2023 2022
rM’000 rM’000
restated
Banking 221,520 194,545
Insurance and takaful 14,071 2,517
Recoveries from impaired loans 11,863 29,188
Treasury 3,067 2,236
250,521 228,486

The timing of revenue recognition by the Group and the Bank are as follows:

Group and Bank
2023 2022
rM’000 rM’000
restated

At a point in time 33,884 36,348
Over a period of time 216,637 192,138
250,521 228,486

26. INTErEST INCoME
Group and Bank
2023 2022
rM’000 rM’000
Financial assets at amortised cost
Loans, advances and financing
- Interest income from non-impaired loans 129,413 111,406
- Recoveries from impaired loans 5,786 15,626
Money at call and deposit placements with banks and other financial institutions 31,628 36,510
Financial investments at FVOCI and at amortised cost 15,020 12,305
Amortisation of premium, net (382) (236)
181,465 175,611