KUALA LUMPUR: Bank Rakyat has announced 16 per cent dividend for its account holders, the highest since 2012, representing RM480 ​​million in total payout for the financial year ended December 31, 2017. Net profit of the cooperative bank for the financial year also increased 17.2 per cent to RM1.36 billion, compared to RM1.16 billion previously. Bank Rakyat chairman Tan Sri Shukry Mohd Salleh said the outstanding performance was the result of higher revenue of RM6.34 billion recorded for the year, an increase of 5.7 per cent compared to RM6 billion previously. Also present were Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Hamzah Zainudin and Bank Rakyat managing director Datuk Zulkiflee Abbas Abdul Hamid. On gross financing, he said Bank Rakyat posted an increase of 2.1 per cent to RM70.63 billion, compared to RM69.18 billion previously.

Source: New Strait Times March 27, 2018 13:52 UTC