RHB Capital Posts RM511.6 Million 1st Quarter Pre-Tax Profit

RHB Capital posted an 8 per cent increase in pre-tax profit to RM511.6 million for the first quarter of 2011, ending March 31. The company registered a profit of RM474.2 million in the previous corresponding quarter.

The group attributed its improved performance to higher net interest income, other operating income, income from Islamic Banking business and lower allowance for impairment on loans, financing and other losses, partially offset by higher other operating expenses.

Revenue rose to RM1.65 billion from RM1.398 billion previously.

Chairman Datuk Mohamed Khadar Merican said that the outlook of the Malaysian banking sector remained positive, supported by the underlying strengths of the domestic economy and the roll out of the large-scale infrastructure projects under the Economic Transformation Programme.

RHB Bank Bhd continued to be the largest contributor to the group, accounting for 92 per cent of the group's profit.
The full story is available at Bernama.com.

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