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Bank Rakyat posts net profit of RM1.15b in 2019 | Malay Mail

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KUALA LUMPUR, March 28 ― Bank Rakyat Group recorded a net profit of RM1.15 billion for the year ended December 2019 and a profit before tax and zakat of RM1.79 billion, amid a challenging year. The steady performance was achieved through a higher year-on-year net income of 3.26 per cent due to...

Bank Rakyat Group posts a net profit of RM1.15 billion for the year ended December 2019. — Picture by Choo Choy May

Chief executive officer, Datuk Rosman Mohamed said the good performance was also achieved via strong fundamentals and being focused on core activities as well as on-going initiatives on increasing current accounts and savings account . In 2019, its gross financing balance grew to RM72.42 billion, despite the intense competition, benefitting the diversification of portfolios, mainly from home, car and business financing.

“As part of diversification on other portfolios, personal financing balance stood at RM55.53 billion, increase moderately by 1.2 per cent or RM0.65 billion, in line with the group’s long-term strategy to reduce overall dependency on personal financing,” he said.

 

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