Bank Rakyat profit up 35% to $321.53mln

Financing income rises for the first nine months behind strong growth in all business segments.

Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat) recorded a 34.6% increase in net profit to RM1bil ($321.53mln) for the first nine months ended Sept 30, 2010.

Profit before tax and zakat increased 21.5% to RM1.28bil ($411.55 million) over that period. This higher profit was mainly contributed by the increase in financing income in line with the strong growth in financing balance in all business segments of the bank.

Over the same period, Bank Rakyat’s gross income rose by 18.9% to RM3.44bil ($1.11 billion). Net income after profit distribution to depositors grew by 33.6% to RM2.85bil ($916.35 billion).

Income from financing increased to RM2.99bil ($961.37 million) compared with RM2.47bil ($794.17 million) previously.

View the full story in The Malaysian Star.

Follow the link for more news on

Also Read

Why banks will be ‘invisible’ by 2030

Flooding impact on Thai banks ‘manageable’

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit