RHB Bank Bhd reported a higher net profit of RM750.03 million for the first quarter ended March 31, 2025 (1Q 2025), up from RM730.17 million a year earlier, primarily attributed to higher net fund-based income and improved credit cost management.
However, revenue dipped slightly to RM4.39 billion from RM4.40 billion.
The group’s net fund-based income rose 7.3% year-on-year to RM1.48 billion, supported by 6.3% gross loans and financing growth to RM239.2 billion, particularly in mortgage, corporate, commercial, and auto financing.
Group managing director and CEO Datuk Mohd Rashid Mohamad said RHB sustained its earnings momentum thanks to “solid fundamentals” and early gains from its PROGRESS27 strategic roadmap.
“Our cost optimisation efforts are beginning to deliver results, enabling us to contain expenses while driving growth in key segments,” he said.
He also highlighted that improved asset quality reduced credit costs.
Looking ahead, RHB remains cautious amid shifting macroeconomic conditions but views Bank Negara Malaysia’s recent cut in the statutory reserve requirement as a boost for funding flexibility.
“With focused execution priorities, from simplifying customer journeys to advancing our sustainability ambitions, we are well-positioned to deliver near-term value while unlocking long-term value for all stakeholders,” Rashid added. — TMR
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