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RHB Bank Pre-Tax Profit Falls To RM644.07 Million
Last update: 27/11/2017

KUALA LUMPUR, Nov 27 (Bernama) --†RHB Bank Bhd's pre-tax profit for the third quarter ended Sept 30, 2017 declined to†RM644.07 million from RM662.62 million in the same quarter last year.

Revenue fell to RM2.62 billion from RM2.65 billion†previously,†it said in a filing to Bursa Malaysia today.

RHB Bank said group retail banking, the†biggest contributor, reported† 3.2 per cent lower†pre-tax profit of RM799.5 million for the first nine months ended Sept 30,†2017, mainly due to lower net fund-based income as yield competition intensified.

Group business banking recorded a pre-tax profit of RM277.2 million in the first nine months, a decrease of 15.9 per cent†due to higher allowances for loans and financing and higher operating expenses, it said.

The bank said group wholesale banking recorded a pre-tax profit of RM1.27 billion, an increase of 3.8 per cent from the previous year's corresponding period.

On outlook, RHB Bank said, it expected to deliver a better performance this year with its continued†focus on selective areas of growth while also effectively managing asset quality and enhancing productivity through its various digitisation initiatives.

-- BERNAMA

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Source: Bank Negara Malaysia

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