Malaysia's RHB Bank Bhd. posted a 7.9% year-over-year rise in net profit for the second quarter amid an increase in other operating income and income from its Islamic banking business
The group on Aug. 26 reported a second-quarter net profit attributable to equity holders of 615.4 million ringgit, up from 570.3 million ringgit in the prior-year period. EPS climbed to 15.3 sen from 14.2 sen.
Net interest income declined year over year to 880.9 million ringgit from 936.9 million ringgit, while income from the Islamic banking business increased to 431.3 million ringgit from 371.0 million ringgit. Other operating income rose to 464.4 million ringgit from 310.1 million ringgit.
Operating profit before allowances rose to 915.4 million ringgit from 818.1 million ringgit. Allowance for credit losses on financial assets for the quarter came to 73.9 million ringgit, up from 45.2 million ringgit in the prior-year quarter.
Before proposed dividends, the group's total capital ratio as of June 30 came to 19.808%, up from 19.213% at Dec. 31, 2018. Over the same period, the group's Tier 1 capital ratio rose to 16.897% from 16.128%, while its common equity Tier 1 ratio climbed to 16.744% from 15.920%.
After proposed dividends, the group's total capital ratio as of June 30 came to 19.383%, up from 18.780% at the end of 2018. Over the same period, the group's Tier 1 capital ratio grew to 16.472% from 15.696%, while its common equity Tier 1 ratio climbed to 16.319% from 15.488%.
The company's board declared an interim dividend of 12.5 sen per share for the 2019 full year, up from the prior year's interim dividend of 7.5 sen per share. The bank said the payment date for the interim dividend has yet to be determined.
As of Aug. 23, US$1 was equivalent to 4.19 Malaysian ringgit.
