Business

RHB Capital Q3 pre-tax profit rises to RM640.4m

KUALA LUMPUR, Nov 22 – RHB Capital Bhd’s pre-tax profit for the third quarter ended Sept 30, 2012 rose to RM640.35 million from RM559.73 million in the same quarter of 2011.

Revenue increased to RM1.96 billion from RM1.77 billion previously.

For the nine months to Sept 30, 2012, its pre-tax profit rose to RM1.82 billion from RM1.68 billion in the same period of 2011.

Revenue increased to RM5.80 billion from RM5.23 billion previously.

In a statement today, RHB Capital said the higher pre-tax profit was driven by higher net interest income, other operating income and income from Islamic banking business as well as lower allowance for impairment on loans and financing, partially offset by higher other operating expenses.

RHB Capital said its balance sheet was well-diversified, growth was seen on both sides of the balance sheet with inflows of deposits and continued disciplined loan growth highlighting the strength of its franchise.

“Total assets of the group expanded by 11 per cent to RM169.5 billion as at  Sept 30, 2012, mainly due to growth in net loans and investment portfolio.

“Shareholders’ equity rose by 10.8 per cent to RM12.9 billion with net assets per share improved to RM5.76 against RM5.27 as at Dec 31, 2011,” it said.

Moving forward, RHB Capital said the completion of the acquisition of OSK Investment Bank Group on Nov 9 has enhanced its product offerings and geographical footprint into eight nations across the Asean region and Hong Kong.

“The group will continue to strengthen its leadership position in targeted markets and product segments, build strong customer relationships as well as leverage on its infrastructure and multiple distribution networks,” it said. – Bernama

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