Bank Rakyat H1 net profit up 10.5%
Bank Rakyat has posted a 10.5% increase in net profit to RM915mil in the first half ended June 30 from RM828.3mil in the previous corresponding period.
The growth was attributable to financing and feebased activities, the bank said in a statement yesterday.
Up to June 2013, the bank’s main business, gross consumer financing, increased by 10.7% to RM52.1bil compared with RM47.1bil in the same period last year.
Its gross financing balance increased by 9.9% to RM58.45bil in the period.
The bank noted that its total assets rose 9.3% to RM84.7bil for the first half of the year from RM77.5bil a year ago.
“This was driven primarily by growth in financing to customers,” the bank said, adding that its return on asset remained strong at 2.9% for the period under review.
Its asset quality, meanwhile, remained at a sustainable level, with its gross impaired financing ratio standing at 2.4%, a decline from the 2.9% of last year.
Total deposits also grew firmly by 7.2% to RM67.94bil as at end-June from RM63.38bil a year ago. The retail deposit segment accounted for 13.6% of total deposits, compared with 10.6% previously.
The shareholders’ fund rose by 14% to RM10.59bil for the said period from RM9.12bil a year ago, underpinned by an increase in net profits for the current year.
“In the first half of 2013, the risk-weighted capital ratio of the bank continued to be high at 15.5%, whilst core capital ratio stood at 15.2%,” it added.