RHB Bank 2Q net profit at RM400m on modification loss

Datuk Khairussaleh Ramli, group managing director, RHB Banking Group, said that against the backdrop of a sharp economic contraction, "we also continue to exercise prudence by building up provisions in anticipation of a potential weakening of asset quality".

KUALA LUMPUR: RHB Bank Bhd's net profit fell by 34.9% to RM400.77mil in the second quarter ended June 30, 2020 mainly due to the one-off net modification loss of RM392.4mil.

The banking group said on Friday the net profit compared with RM615.41mil a year ago.