RHB records 3Q net profit of RM700.48mil


PETALING JAYA: RHB Bank Bhd group managing director and CEO Mohd Rashid Mohamad says there is likely to be continued challenges of limited fiscal space, inflationary pressures and labour shortages in 2023.

However, he maintained the bank’s fundamentals remain strong and it would continue to closely monitor asset quality moving forward.

“We are also mindful that some of our customers are still recovering from the impact of the Covid-19 pandemic and as such, will continue providing the necessary support and assistance especially to the most vulnerable groups within the community,” he said in a statement yesterday.

RHB posted a net profit of RM700.48mil in the third quarter ended Sept 30, 2022, up from RM635.59mil in the previous corresponding quarter, on higher net fund-based income, the absence of modification loss and lower expected credit losses (ECL).

Earnings per share was 16.63 sen compared with 15.64 sen in the previous same quarter.

Revenue was reported at RM3.48bil, up from RM3.03bil in the comparative quarter.

For the nine-month period to Sept 30, 2022, RHB’s net profit was RM1.94bil, slightly lower than RM1.99bil in the 2021 period while revenue was RM9.33bil, up from RM8.86bil in the year-ago period.

Year-to-date, the group reported a 5.8% increase in total assets to RM306.4bil as at Sept 30, 2022, representing a net assets per share of RM6.66, with shareholders’ equity at RM28bil.

The bank’s common equity Tier-1 (CET-1) and total capital ratio stood at 16.4% and 18.8% respectively.

The group’s gross loans and financing grew 5.7% year-to-date to RM209.7bil, mainly supported by growth in mortgage, auto finance, small and medium enterprises, commercial, Singapore and Cambodia. Domestic loans and financing grew 4.3% year-to-date.

Meanwhile, the group’s gross impaired loans was RM3.3bil as at September 2022 with gross impaired loans ratio of 1.57%, compared with RM3.3bil and 1.62% respectively in June 2022.

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

RHB , Mohd Rashid Mohamad , outlook

   

Next In Business News

Oil prices settle lower on stronger supply outlook
US interest rate outlook
FM Global eyeing more overseas expansion
Cash-rich companies on Bursa
Debt not a drawback as it is an efficient tool for finance, investment
LYC plans to list unit in Singapore
AAX passengers soar on border reopening
A RM1.5 trillion debt hangover
UNIVERSITY OF GLOUCESTERSHIRE PARTNERS WITH PENINSULA COLLEGE
A breath of fresh air

Others Also Read