KUALA LUMPUR: Bank Rakyat's profit before tax and zakat rose 4.7% to
RM539.5mil for the first quarter ended March 31, 2013, from the
RM515.4mil registered in the previous corresponding period.
Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2013/4/30/business/13044059&sec=business
Published: April 30, 2013
Source from (The Sun Daily): http://www.thesundaily.my/news/683358
Published: April 30, 2013
Company’s Q1 earnings hit RM540mil on higher income from financing
The cooperative bank said the higher profit was contributed by the increase in income from financing and fee-based activities.
Its gross income for the quarter rose 0.9% to RM1.51bil from the RM1.5bil registered in the corresponding period.
Net income after profit distribution to depositors eased 1.4% to RM820mil during the quarter under review, from the RM840mil recorded in the same period last year, it said in a statement.
The consumer financing gross balance increased 11.6% to RM50.99bil compared with the RM45.7bil chalked up earlier. “Consumer financing remains our major business focus, accounting for 89.2% of Bank Rakyat's total financing for the period under review. In terms of financing portfolio, personal financing is the major contributor at 88.1% of total consumer financing,” it added.
Meanwhile, the bank's total assets grew by 6% to RM82.7bil compared with RM78.03bil previously.
Bank Rakyat's total deposits grew 4.2% to RM65.63bil, as at end-March, compared with the RM62.99bil registered in the corresponding period of last year. - Bernama
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