The decline in the O&G sector also significantly affected RHB’s Singapore operations, acknowledged Khairussaleh. RHB’s Singapore ops registered RM269 million in losses before tax, down from RM103 million in profit before tax for FY15. “Yes, most of the impact there is from the O&G sector, as all banks have been affected. RHB’s insurance business has a market share of about 3.6% in Malaysia, ranking the bank at 11th place in terms of market share. The group expects to maintain its cost-to-income ratio, which stood lower at 50% in FY16 compared with 53.8% last year.

Source: The Edge Markets February 24, 2017 11:48 UTC