In a statement today, RHB Bank said this was mainly due to lower impairment losses on other assets and higher net funding income. It was partially offset by lower non-fund based income, higher overheads and higher loan loss impairment. RHB Bank said non-fund based income was 10.9 per cent lower at RM1.32 billion, contributed largely by lower net foreign exchange gain, lower commercial/investment banking fee income, lower trading and investment income and lower insurance underwriting surplus. This was mainly attributed to lower net fund based income as yield competition intensified, partially offset by lower allowances for loans and financing, it said. “We continue to achieve consecutive quarters of sustained profitability amidst the domestic market moderate loans growth and continuing global uncertainties.

Source: New Strait Times November 27, 2017 06:33 UTC