KUALA LUMPUR, Aug 29 — RHB Bank Bhd’s net profit for the second quarter ended June 30, 2022 (Q2 2022) eased to RM634.83 million from RM701.34 million achieved in the corresponding period last year mainly due to lower non-fund based income and higher operating expenses.
In a filing with Bursa Malaysia, it said revenue for Q2 2022 rose to RM2.98 billion from RM2.92 billion previously.
Net interest margin (NIM) for the quarter was 2.23 per cent compared with 2.15 per cent recorded in the corresponding period last year.
For the first half-year ended June 30, 2022 (1H 2022), net profit was RM1.23 billion from RM1.35 billion, while revenue was slightly better at RM5.84 billion against RM5.83 billion in the same period last year.
The bank said its net fund-based income improved to RM3.03 billion in 1H 2022 driven by higher gross fund-based income, which grew 6.7 per cent year-on-year supported by loans growth of 7.3 per cent.
Total assets for the group increased 3.5 per cent from December 2021 to RM299.7 billion as at June 30, 2022. Net assets per share was RM6.51, with shareholders’ equity at RM27.4 billion as at end-June 2022.
The group’s gross loans and financing grew 7.3 per cent year-on-year to RM204.9 billion, mainly supported by growth in mortgage, auto finance, small medium enterprise (SME) and Singapore.
Domestic loans and financing grew 2.3 per cent year-to-date.
In line with its commendable performance, RHB Bank declared an interim dividend of 15 sen per share, consisting of cash payout of 10 sen per share and an electable portion under the Dividend Reinvestment Plan of five sen per share for shareholders.
"This is equivalent to a payout ratio of 51.2 per cent, which reflects our deep appreciation of the continued trust and support from our shareholders," it said.
Mohd Rashid Mohamad, group managing director and group chief executive officer of RHB Banking Group, said moving ahead, the bank would double down on executing its new three-year strategic plan,'Together We Progress 24' (TWP24), which focuses on deeper customer experience and driving growth quality with digitalisation and innovation.
"The group will also continue to focus on integrating sustainability into our business and decision-making process through our five-year Sustainability Strategy and Roadmap," he said in a separate statement. — Bernama
