"Given the challenging operating environment, we continued to be innovative in our approach, while exercising vigilance by building our provisions and enhancing prudent risk management practices and at the same time maintaining a strong capital and liquidity base," said group managing director Datuk Khairussaleh Ramli.
KUALA LUMPUR: RHB Bank recorded an 18.1% decline in net profit to RM2.03bil in the financial year ended Dec 31, 2020, as compared to RM2.48bil in the previous year due to the net modification loss arising from the loan moratorium and higher expected credit losses.
However, the loss was partially mitigated by higher net fund-based and non-fund-based income.
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