By Ying Xian Wong
RHB Bank Bhd.’s second-quarter net profit dropped from a year earlier, mainly due to lower non-fund based income and higher operating expenses.
The bank posted a second-quarter net profit of 634.8 million ringgit ($142.1 million), compared with a net profit of MYR701.3 million a year earlier.
Second-quarter revenue rose to MYR2.99 billion from MYR2.93 billion a year earlier.
For the six months ended June, it recorded a net profit of MYR1.24 billion, compared with MYR1.35 billion a year earlier, the bank said in a bourse filing Monday.
It also announced an interim dividend of 15 Malaysian sen a share.
RHB said the local banking sector is projected to remain robust, underpinned by healthy capital and liquidity positions, as well as adequate levels of provisioning.
“In addition, the central bank could raise overnight policy rate further,” it said.
Write to Ying Xian Wong at yingxian.wong@wsj.com
(END) Dow Jones Newswires
August 29, 2022 01:54 ET (05:54 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Read More: RHB Bank’s Second-Quarter Net Profit Falls Amid Higher Operating Expenses