RHB BANK NETS RM1.16b FOR H1
Banking group expects better full-year results on sustained earnings momentum
RHB Bank Bhd posted a net profit of RM1.16 billion in the first half of this year and expects its fullyear performance to be better than last year. The net profit, which was 16 per cent higher year-on-year, was mainly due to an increase in net fund-based and non-fundbased income and lower allowances for
credit losses on other assets.
“The group’s earnings momentum was sustained in the second quarter, resulting in improved first-half performance.
“Our results also reflect strong fundamentals, as can be seen in our robust capital levels, healthy liquidity position and adequate coverage for loan losses,” said RHB Banking Group managing director Datuk Khairussaleh Ramli at a briefing, here, yesterday.
“Barring unforeseen circumstances, the group expects to achieve better performance this year,” said the group in a statement.
RHB Group’s net fund-based income rose 10.8 per cent to RM2.48 billion from a year ago while gross fund-based income increased 6.6 per cent on the back of a 3.1 per cent increase in gross loans and financing.
Its Islamic banking segment contributed
31.4 per cent of total domestic loan and financing, up from 27.3 per cent a year ago.
In the second quarter ended June 30, RHB Group’s net profit rose 13.8 per cent year-on-year to RM570.26 million.
Its revenue for the quarter increased 1.1 per cent to RM2.66 billion from a year earlier.
The group has declared an interim dividend of 7.5 sen per share, or 25.9 per cent payout ratio.