RCE Capital net profit up 55% in Q1


In a filing with Bursa Malaysia, the non-bank financial institution said earnings growth was primarily due to higher early settlement, net fee income as well as lower allowances for impairment loss on receivables.

PETALING JAYA: RCE Capital Bhd’s net profit grew 55% to RM35.39mil for the first quarter (Q1) ended June 30, 2021, from RM22.84mil in the corresponding period last year.

In a filing with Bursa Malaysia, the non-bank financial institution said earnings growth was primarily due to higher early settlement, net fee income as well as lower allowances for impairment loss on receivables.

During the quarter in review, revenue rose 20.6% to RM78.04mil from RM64.72mil in the previous corresponding quarter on higher early settlement and net fee income.

Earnings per share rose to 9.81 sen from 6.50 sen previously.

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