PETALING JAYA: Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat) has declared a 13% dividend for the financial year ended Dec 31,2020 (FY20) compared with 14% in FY19.
Entrepreneur Development and Cooperatives Minister, Datuk Seri Dr Wan Junaidi Tuanku Jaafar, said the payout amounted to RM373.36mil, which will be credited into the accounts of the 834,302 members effective yesterday.
“Despite being faced with economic uncertainties last year due to the Covid-19 pandemic, the bank managed to record a commendable profit to allow it to continue paying a double-digit dividend. Bank Rakyat has been paying a double-digit dividend for almost 22 years now except in 1998 when it paid only 8% due to the financial crisis, ” he told reporters after announcing the 2020 dividend payment yesterday.
Meanwhile, Bank Rakyat chairman, Datuk Abdul Rani Lebai Jaafar, said the shareholders’ fund increased by 6.2% or RM1.22bil to RM20.95bil compared to RM19.73bil previously, arising from the group’s net profit carried forward during the year.
“As at Dec 31,2020, the risk-weighted capital ratio and core capital ratio after the proposed final dividend remained strong at 24.14% and 22.21%, respectively. These capital ratios were well above the minimum regulatory requirements and the industry average, ” he said. ─ Bernama