RHB Capital posts higher PBT in Q3

RHB Capital Bhd posted a pre-tax profit of RM739.8 million for the third quarter ended Sept 30, 2013, up from RM640.3 million posted a year ago.

It recorded a net profit of RM559.1 million, an increase of 14.7 per cent from RM487.5 million previously, while revenue gained 25 per cent to RM2.455 billion from RM1.961 billion.

The growth was largely contributed by strong income growth, well managed operating expenses and lower impairment allowances for loans.

However, for the nine months, pre-tax profit eased two per cent lower to RM1.788 billion compared with RM1.824 billion in the previous corresponding period.

Earnings also dwindled 3.6 per cent to RM1.326 billion from RM1.376 billion.

Revenue improved by 21.8 per cent to RM7.06 billion from RM5.796 billion previously.

In a statement today, Group managing director of RHB Banking Group, Kellee Kam said the local banking sector's outlook is expected to continue its moderate growth in line with a stable domestic operating environment, with system wide sound asset quality, strong capitalisation and funding profiles.

"Following this, the Group's business performance is expected to improve further given our enhanced geographical footprint, while for the remaining part of the financial year we anticipate a satisfactory performance," he added.

As at September 30, 2013, RHB Capital's total assets stood at RM187.7 billion.