KUALA LUMPUR: RHB Bank Bhd’s second quarter profits ended June 2017 was 43.06 per cent higher at RM500.96 million from RM350.17 million posted, a year ago, mainly due to lower impairment losses and higher funding income. For the six months, the group’s net profit grew 9.4 per cent to RM1 billion while revenue eased to RM5.25 billion from RM5.36 billion, previously. This has improved net interest margin, rising to 2.19 per cent from 2.17 per cent in the preceding quarter. Group business banking recorded a 17.1 per cent decrease in pre-tax profit to RM189.9 million in the first six months, mainly due to higher allowances for loans and financing and higher operating expenses. Group wholesale banking recorded a pre-tax profit of RM874.7 million, an increase of 7.8 per cent from the previous year corresponding period.

Source: New Strait Times August 29, 2017 08:26 UTC