KUALA LUMPUR, March 30 — Bank Rakyat Group has recorded a higher profit before tax and zakat of RM1.70 billion for the financial year ended Dec 31, 2022 (FY2022), compared with...
KUALA LUMPUR, March 30 — Bank Rakyat Group has recorded a higher profit before tax and zakat of RM1.70 billion for the financial year ended Dec 31, 2022 , compared with RM1.63 billion in the previous year.
“Besides that, adequate provisioning during the year, in line with industry trend, has also boosted the group’s performance,” he said during the announcement of the group’s financial performance and dividend for FY2022 today.The group’s core operating income rose 3.42 per cent to RM5.90 billion from RM5.71 billion previously as a result of stronger financing growth in both Retail and Business financing segment.
The Group demonstrated discipline and efficiency in cost management, which were reflected in its healthy cost-to-income ratio of 39.79 per cent, and was much lower than industry average of 44.20 per cent. Meanwhile, return on assets improved to 1.45 per cent from 1.40 per cent in tandem with the industry trend.
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