Recommend Us | About Us | Back to Bernama.com

News | Financial Calculator | Home Financing | Archived News |

 

  Welcome to Bernama Banking & Finance Special Page     
 
RAM reaffirms RHB Islamic's AA2/Stable/P1 ratings
Last update: 21/12/2018

KUALA LUMPUR, Dec 21 (Bernama) -- RAM Ratings has reaffirmed the AA2/Stable/P1 financial institution ratings of RHB Islamic Bank Bhd, as well as the AA3/Stable rating of the Bank’s RM5.0 billion Subordinated Sukuk Murabahah Programme (2014/2034).

The ratings are premised on its expectation that the bank would continue to benefit from ready parental support in view of its strategic importance as the Islamic banking arm of RHB Bank.

“Operating under a universal banking model, the bank leverages significantly on its group’s financial flexibility, branch network and risk management systems.

“Furthermore, the bank is able to derive funding support from the group via restricted profit-sharing investment accounts  arrangement, which amounted to RM8.6 billion, or 16 per cent of its total profit-bearing funds as at end-September 2018,” it said in a statement.

Given the group’s focus on shariah financing and its target of a 40 per cent contribution by the segment to the group’s total financing, RHB Islamic’s financing base expanded by a rapid 42 per cent from RM34.1 billion as at end-December 2016 to RM48.3 billion as at end-September 2018.

Meanwhile, RHB Islamic’s net financing margin improved to 1.6 per cent in the nine-month of fiscal 2018 (fiscal 2016: 1.4 per cent) albeit still narrower than that of Islamic banking peers.

-- BERNAMA


 <Back>

Bank Muamalat fetes underprivileged and physically challenged children
Ez-Zakat Muamalat facilitates zakat obligation

 
Use Bank Islam SnapNPay for fast wakaf contribution

Hong Kong’s health insurance sector needs further development - AM Best
Insurance Associations to raise awareness of Perlindungan Tenang

 
Public Mutual launches PB Global Technology and Healthcare Fund

OPENING, THURSDAY, MAY 23
US4.1900/1930
S'pore3.0358/0384
100 Yen3.8032/8070
Sterling5.3004/3058
Euro4.6723/6765
Source: Bank Negara Malaysia

Reduction in the overnight policy rate (OPR) by Bank Negara Malaysia would be good for consumer spending and investment;
Yes
No
Not sure
 
  Main | News | Insurance

© 2019 BERNAMA. All Rights Reserved. Disclaimer | Privacy Policy| Security Policy
This material may not be published, broadcast, rewritten or redistributed in any form except with the prior written permission of BERNAMA.
Best viewed in Firefox 8.0 & Internet Explorer 8.0 with 1024 x 768 resolution