KUALA LUMPUR: Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat) has announced a dividend distribution of 17 per cent, amounting to RM486.32 million for the financial year ended Dec 31, 2024 (FY2024).
The dividend will benefit 773,859 eligible members and will be disbursed beginning today.
Entrepreneur Development and Cooperatives Minister Datuk Ewon Benedick, whose ministry oversees Bank Rakyat, said the bank has maintained a double-digit dividend payout for the past 20 years.
"I believe this achievement is the result of Bank Rakyat's commitment to fulfilling its mandate to enhance the economic well-being of its members and customers, while also providing equity and prosperity across all levels of society,” he said at a media briefing here today.
Earlier, Bank Rakyat chairman Datuk Mohd Irwan Mohd Mubarak noted that the bank recorded a 3.15 per cent year-on-year increase in profit before tax and zakat to RM1.82 billion, from RM1.76 billion in FY2023.
"This was achieved through a solid foundation and focus on core activities, supported by improving domestic economic conditions. These factors allowed the bank to remain resilient despite global economic uncertainties and an increasingly challenging banking environment,” he said.
Meanwhile, Bank Rakyat’s newly appointed chief executive officer, Ahmad Shahril Mohd Shariff, said that the bank aims to maintain its growth momentum by targeting the non-Bumiputera market.
"We are currently collaborating with partners to explore this segment. If you have noticed, we have launched several programmes, particularly for the Indian community, and more are on the way.
"Most importantly, we are working with key players to help us reach this market. While we have engaged with this segment previously, we are now intensifying our efforts, especially since the majority of our depositors are non-Bumiputera, which provides a strong existing customer base,” he added. - Bernama
