Bank Rakyat’s profit for nine months jumps to RM1.62b

KUALA LUMPUR, Oct 29 – Bank Rakyat recorded a significantly increased profit of RM1.62 billion, before tax and zakat, for the first nine months financial period ended Sept 30, 2012.
This was a rise by 8.1 per cent or RM121.8 million compared with the RM1.50 billion seen in the same period of last year.

Source from (The Malaysian Insider): http://www.themalaysianinsider.com/business/article/bank-rakyats-profit-for-nine-months-jumps-to-rm1.62b/
Published: October 31, 2012

“This commendable performance was achieved with an increase in income from financing activities and investment which were in tandem with the growth in financing and deposits,” the bank said in a statement here today.

The bank also recorded a higher net profit of RM1.33 billion for the period compared with RM1.20 billion in the corresponding period of 2011.

Gross income meanwhile rose 15.2 per cent or RM616.4 million to RM4.68 billion in the nine-month period compared with RM4.06 billion previously.

The bank’s assets during the period rose 10.8 per cent or RM7.74 billion to RM79.50 billion compared with RM71.75 billion in the same period last year.
Return on asset as at end September 2012 meanwhile continued to strengthen to a rate of 2.9 per cent, the bank said.

It said consumer financing will continue to remain its chief focus with the sector accounting for 89.2 per cent of its total financing in the first nine months of this year.

The shareholders fund rose 32.1 per cent or by RM2.39 billion to RM9.83 billion as at the end of the period reviewed compared with RM7.44 billion the previous year with the higher net profit contribution and an increase in the paid-up share capital.

Meanwhile the risk-weighted capital ratio (RWCR) remained high at 15.0 per cent while the core capital ratio (CCR) was at 14.8 per cent. – Bernama