KUALA LUMPUR: RHB Bank Bhd reported an increase of one per cent for its 2016 financial year net profits to RM1.68 billion. Islamic banking continued its growth momentum, contributing 24.8 per cent of total domestic gross loans and financing, in comparison with the 23 per cent in December 2015. The group retail banking remains its biggest contributor, despite a 4.4 per cent decrease in its pre-tax profit to RM1.1 billion. Retail loans and financing grew by 2.9 per cent to RM70.1, driven by growth in mortgages. Mortage loans grew at a strong rate of 13.3 per cent year-on-year, resulting in an increase in domestic market share to 8.6 per cent from 8.2 per cent as of December 2015.

Source: New Strait Times February 24, 2017 07:30 UTC