RHB Q3 net profit jumps to RM578m

Malaysia's RHB Bank logo is seen at its branch in Kuala Lumpur in this September 4, 2013 file photo. — Reuters pic
Malaysia's RHB Bank logo is seen at its branch in Kuala Lumpur in this September 4, 2013 file photo. — Reuters pic

KUALA LUMPUR, Nov 27 — RHB Bank Bhd’s net profit for the third quarter (Q3) ended September 30, 2018, rose to RM578.69 million from RM488.83 million chalked up in the same quarter last year.

Revenue increased to RM3.20 billion from RM2.96 billion recorded in the corresponding quarter.

RHB Banking Group Managing Director Datuk Khairussaleh Ramli said the group’s performance exhibited resilience despite challenging market conditions and volatility in the global economy.

“Our robust capital levels, healthy liquidity position and adequate coverage for loan losses set us out for sustainable growth. Our profit for the first nine months this year is our highest ever.

“We aim to boost performance and enhance our top line growth, as well as, deliver service excellence through our 'FIT22 five-year strategy,' supported by our digital transformation programme focusing on providing value add interactions and customised services based on differentiated segments. To drive this agenda, we scaled up the Agile way of working across the group,” he said in a statement.

Barring unforeseen circumstances, Khairussaleh said the group expected to achieve better performance this year. — Bernama

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