Tuesday, October 26, 2010

Bank Rakyat's profit hits RM1.28b

KUALA LUMPUR: Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat) posted a pre-tax profit and zakat of RM1.28 billion for the financial year ended Sept 30, 2010, an increase of 21.5%, or RM227.4 million, over the RM1.06 billion recorded in the previous year.

In a statement here on Tuesday, Oct 26, the bank said this was achieved on 18.9% increase in gross income to RM3.44 billion from RM2.89 billion previously.

Its managing director Datuk Kamaruzaman Che Mat said the higher profit was mainly contributed by the increase in financing income in line with the strong growth in financing balance in all the bank's business segments. Over the same period, he said, the bank's net profit increased by RM257.6 million to RM1 billion from RM743.4 million previously.

Net income after profit distribution to depositors grew by RM717.4 million to RM2.85 billion from RM2.13 billion previously.

Income from financing increased to RM2.99 billion from RM2.47 billion previously.

Its fee-based income increased by RM13.8 million to RM80.8 million from RM67.0 million previously, of which 85.3% were contributed from income on wasiat, commission on takaful and automated teller machine service fee. Total assets grew by RM9.32 billion to RM58.57 billion from RM49.25 billion previously.

Kamaruzaman said during the year, the bank adopted a more stringent criteria on the classification of impaired financings under the FRS139, of which financings of more than three months in default were categorised as impaired financings.

"As such, the bank recorded an impaired financing ratio of 3.91% for the period, as compared to the gross non-performing ratio of 5.33% under the earlier Bank Negara Malaysia classification previously.

The bank's total deposits grew by RM2.82 billion to RM45.47 billion at the end of September 2010 from RM42.64 billion previously.

Its shareholders??? fund increased by RM895.9 million to RM6.23 billion at the end of September 2010 from RM5.33 billion previously. ??? Bernama

No comments:

Post a Comment