RHB BANK BERHAD (RHBBANK 1066)
SNAPSHOT
The origins of RHB Bank Berhad can be traced back to 1913 with the founding of Kwong Yik Bank Berhad in Malaya (not to be confused with Kwong Yik Bank Singapore which ironically had collapsed in the same year as a result of a bank run and financial malpractice). In 1997, Kwong Yik Bank Berhad merged with DCB Bank Berhad (previously known as Development and Commercial Bank Berhad which was established in 1966).
The name RHB originated from (Tan Sri) Rashid Hussain, a Malaysian entrepreneur who founded the stockbroking firm Rashid Hussain Securities (RHS). RHS acquired a 75% stake in Kwong Yik Bank Berhad in 1996 and played a key role in its merger with DCB bank in 1997 to become RHB Bank. In 1999, RHB Bank merged with Sime Bank (previously United Malayan Banking Corporation Berhad or UMBC) and in 2003 acquired Bank Utama of Sarawak. Subsequently in 2012, the group acquired OSK Investment Bank thus strengthening its foothold in Malaysia and regional markets including Hong Kong and Indonesia.
| YE 31-Dec | 2020 | 2021 | 2022 | 2023 | 2024 |
| Profit Before Tax (RM mil) | 2,644 | 3,529 | 4,171 | 3,753 | 4,020 |
| Net Profit After Tax (RM mil) | 2,033 | 2,618 | 2,708 | 2,806 | 3,120 |
| EPS (RM) | 0.507 | 0.647 | 0.647 | 0.655 | 0.718 |
| DPS (RM) | 0.1765 | 0.40 | 0.40 | 0.40 | 0.43 |
| Net Loans (RM mil) | 182,425 | 194,897 | 208,379 | 219,563 | 234,968 |
| Customer Deposits (RM mil) | 203,471 | 218,733 | 227,160 | 245,083 | 249,566 |
| Shareholders Funds (RM mil) | 27,024 | 27,998 | 28,715 | 30,875 | 32,492 |
| Net Assets / Total Assets (%) | 10.0% | 9.7% | 9.2% | 9.4% | 9.3% |
| NTA per share (RM) | 5.92 | 5.95 | 5.96 | 6.39 | 6.65 |
| No of Shares (millions) | 4,010 | 4,143 | 4,247 | 4,286 | 4,359 |
| Share Price – Close (RM) | 5.45 | 5.37 | 5.79 | 5.45 | 6.48 |
| Financial Ratios (%) | |||||
| Return on Av Equity | 7.7% | 9.5% | 9.5% | 9.4% | 9.8% |
| Cost to Income Ratio | 44.5% | 43.8% | 44.7% | 47.5% | 46.7% |
| Loan to Deposit Ratio | 89.7% | 89.1% | 91.7% | 89.6% | 94.2% |
| Impaired Loans | 2.0% | 1.8% | 1.8% | 1.3% | 1.2% |
| Net Interest / Total Interest Income | 53.8% | 64.2% | 56.6% | 37.6% | 38.2% |
| Interest Income / Av Net Loans | 3.9% | 3.4% | 3.7% | 4.4% | 4.5% |
SHARE TRADING SUMMARY CY2025
| Share Price - High | RM7.83 |
| Share Price - Low | RM6.07 |
| Share Price - Close @ 31/12/25 | RM7.71 |
| Average Daily Volume | 6,866,844 shares |
| Volume - High | 32,828,301 shares |
| Volume - Low | 1,132,800 shares |
| Total Annual Volume | 1,675,510,001 shares |
|
Annual Turnover (% of Share Capital) |
39.1% |
TOP SHAREHOLDERS
| As at 28 February 2025 | Direct | Indirect |
| Employees Provident Fund Board | 39.26% | - |
| OSK Holdings Berhad | 10.27% | - |
| Kumpulan Wang Persaraan (Diperbadankan) | 4.69% | 0.35% |
| Tan Sri Ong Leong Huat | - | 10.27% |
| Yellow Rock (L) Foundation | - | 10.27% |
| Total | 54.22% |
KEY STRENGTHS
The largest shareholder in RHB Bank Bhd is the Employees Provident Fund with a 39.3% shareholding as at 28/2/25. This is followed by OSK Holdings Berhad with 10.3%.
The group’s Wholesale Banking division has the largest reported segment earnings and comprises Investment Banking, Corporate Banking, Commercial Banking, Asset Management, Treasury and Global Markets. For the year ended 31/12/24, these operations contributed RM264 million, RM757 million, RM156 million, RM63 million and RM1,467 million respectively in Profit Before Tax.
FY2024 SEGMENT EARNINGS (RM mil)
| Group Community Banking | 1,802,462 |
| Group Wholesale Banking | 2,434,362 |
| Group International Business | 103,797 |
| Insurance | 81,679 |
| Support Center and Others | (375,962) |
| Associates | (26,192) |
| Profit Before Tax (FY2024) | 4,020,146 |
LOAN SEGMENTATION
FINANCIALS
|
(RM '000) Year Ending |
2023 31-Dec |
2024 31-Dec |
| Interest Income | 9,473,488 | 10,134,048 |
| Interest Expense | (5,913,911) | (6,264,748) |
| Net Interest | 3,559,577 | 3,869,300 |
| Islamic Banking Income | 2,366,449 | 2,175,980 |
| Other Operating Income | 1,844,399 | 2,559,614 |
| Other Operating Expenses | (3,689,293) | (4,021,429) |
| Impairment on Loans, Advances and Financing | (301,528) | (535,339) |
| Impairment on Other Assets | 0 | (1,788) |
| Share of Results of Associates & JV | (26,260) | (26,192) |
| Profit Before Tax from Continuing Operations | 3,753,344 | 4,020,146 |
| Tax Expense | (942,845) | (896,031) |
| Profit After Tax from Continuing Operations | 2,810,499 | 3,124,115 |
| Profit After Tax | 2,810,499 | 3,124,115 |
| Non-Controlling Interests | (4,271) | (3,904) |
| Net Profit After Tax | 2,806,228 | 3,120,211 |
| EPS Basic / Diluted (RM) | 65.54 | 71.80 |
|
(RM '000) Year Ending |
2023 31-Dec |
2024 31-Dec |
| Net Loans | 219,562,603 | 234,967,648 |
| Cash | 14,145,414 | 11,551,647 |
| Deposits with FI | 888,940 | 811,180 |
| Fin Assets (FVPL) | 3,718,491 | 5,699,882 |
| Fin Assets (FVCI) | 47,976,929 | 51,776,595 |
| Fin Investments (Amortized) | 28,214,643 | 30,112,469 |
| Derivative Financial Instruments | 1,675,723 | 2,748,423 |
| Statutory Deposits | 3,911,810 | 3,829,823 |
| Intangible Assets | 813,175 | 838,284 |
| Right-Of-Use Assets | 142,763 | 142,057 |
| Goodwill | 2,654,122 | 2,649,307 |
| Associates & JV | 56,036 | 74,535 |
| Other Assets | 4,931,462 | 4,712,797 |
| Total Assets | 328,692,111 | 349,914,647 |
| Deposits from Customers | 245,083,070 | 249,565,470 |
| Deposits from Financial Institutions | 17,022,398 | 27,205,021 |
| Investment accounts of customers | 507,774 | 1,258,804 |
| Obligations on Securities Sold under Repurchase Agmts | 8,970,584 | 13,412,388 |
| Bills and Acceptances Payable | 810,216 | 261,592 |
| Recourse Obligations on Loans Sold to Cagamas | 4,332,027 | 2,104,358 |
| Derivative Financial Liabilities | 1,787,728 | 2,285,168 |
| Insurance Contract Liabilities | 1,185,982 | 1,156,004 |
| Debt Securities & Borrowings | 9,279,677 | 9,196,366 |
| Subordinated Obligations | 3,377,163 | 3,380,268 |
| Lease Liabilities | 151,417 | 150,916 |
| Other Liabilities | 5,273,011 | 7,406,928 |
| Total Liabilities | 297,781,047 | 317,383,283 |
| NET ASSETS | 30,911,064 | 32,531,364 |
| Share Capital | 8,330,324 | 8,687,255 |
| Retained Profits | 19,629,339 | 21,116,396 |
| Regulatory Reserves | 1,780,366 | 1,688,697 |
| Other Reserves | 1,134,538 | 999,871 |
| Shareholder Funds | 30,874,567 | 32,492,219 |
| Non-Controlling Interests | 36,497 | 39,145 |
| TOTAL EQUITY | 30,911,064 | 32,531,364 |
| No of Shares (Thousands) | 4,247,373 | 4,286,348 |
| Weighted Av Shares (Thousands) | 4,272,040 | 4,332,311 |
| Share Price (RM) | 5.45 | 6.48 |
|
(RM '000) Year Ending |
2023 31-Dec |
2024 31-Dec |
| Profit Before Tax | 3,753,344 | 4,020,146 |
| Non-Cash Items (Depreciation, Share of Associates, Loan Impairments & Other Items) | (279,659) | (121,922) |
| Operating Profit Before Working Capital Changes | 1,788,975 | 1,729,954 |
| Loans, Advances and Financing | (11,574,010) | (16,487,070) |
| Movement in Other Operating Assets | 145,759 | (1,120,356) |
| Deposits from Customers | 17,757,321 | 4,575,653 |
| Movement in Other Operating Liabilities | (223,291) | 3,100,498 |
| Income Tax Expense and Zakat Paid | (1,167,241) | (857,217) |
| Other Operating Items | (252,858) | (391,271) |
| Cash Flow from Operating Activities | (1,093,943) | 681,891 |
| Net Purchase of Property Plant & Equipment | (137,665) | (134,494) |
| Other Investing Items | (82,271) | (45,677) |
| Cash Flow from Investing Activities | (6,662,804) | (2,598,844) |
| Dividends Paid to Shareholders | (1,520,057) | (1,368,579) |
| Dividends Paid to Non-Controlling Interests | 0 | (1,060) |
| Repayment of Lease Liabilities | (76,097) | (75,953) |
| Net Issuance/(Redemption) of Debt Securities | 3,500,000 | (348316) |
| Other Financing Items | 0 | 0 |
| Cash Flow from Financing Activities | 2,613,755 | (1,350,876) |
| Net Cash Flow | (5,142,992) | (3,267,829) |
| Effects of Exchange Rate Changes | 153,571 | (138,801) |
Income & Cost Metrics
| Year Ending |
2023 31-Dec |
2024 31-Dec |
| (RM'000) | ||
| Interest Income | 9,473,488 | 10,134,048 |
| Interest Expense | (5,913,911) | (6,264,748) |
| Net Interest | 3,559,577 | 3,869,300 |
| Islamic Banking Income | 2,366,449 | 2,175,980 |
| Insurance Service Result | 0 | 0 |
| Net Finance Expense from Insurance Contracts | 0 | 0 |
| Other Operating Income* | 1,844,399 | 2,559,614 |
| Total Operating Income | 7,770,425 | 8,604,894 |
| Operating Cost** | (3,689,293) | (4,021,429) |
| Cost-to-Income Ratio (%) | 47.5% | 46.7% |
| Year Ending |
2023 31-Dec |
2024 31-Dec |
| *Other Operating Income (RM'000) | ||
| Fee & Commission Income (Net) | 866,411 | 976,047 |
| Realised Gain/(Loss) on Fin Instruments | 146,589 | 296,721 |
| Unrealised Gain/(Loss) on Fin Instruments | 266,123 | 425,839 |
| Dividend Income | 72,786 | 63,076 |
| Foreign Exchange Gain/(Loss) | 410,975 | 624,945 |
| Other Income | 81,515 | 172,986 |
| Total | 1,844,399 | 2,559,614 |
| Annual Report Ref (PDF Page) |
Note 38 (p105-p106) |
Note 38 (p108-p109) |
| Year Ending |
2023 31-Dec |
2024 31-Dec |
| **Operating Cost (RM'000) | ||
| Personnel Costs | (2,215,204) | (2,423,680) |
| Establishment Costs | (879,868) | (976,552) |
| Marketing Expenses | (234,284) | (277,310) |
| Administration and General Expenses | (359,937) | (343,887) |
| Total Operating Cost | (3,689,293) | (4,021,429) |
| Annual Report Ref (PDF Page) | Note 40 (p107) | Note 40 (p110) |
| Profit Before Tax (RM'000) | 3,753,344 | 4,020,146 |
| Personnel Costs / Profit Before Tax (%) | 59.0% | 60.3% |
| Personnel Costs / Operating Cost (%) | 60.0% | 60.3% |
STAKEHOLDERS
Directors & CEO Remuneration
2024
Group Total: RM11.0 million
Executive & CEO: RM7.7 million
Non-Executive: RM3.3 million
CEO: RM7.7 million
Executive & CEO: RM7.7 million
Non-Executive: RM3.3 million
CEO: RM7.7 million
2023
Group Total: RM9.2 million
Executive & CEO: RM6.1 million
Non-Executive: RM3.1 million
CEO: RM6.1 million
Executive & CEO: RM6.1 million
Non-Executive: RM3.1 million
CEO: RM6.1 million
2022
Group Total: RM8.5 million
Executive & CEO: RM5.4 million
Non-Executive: RM3.1 million
CEO: RM5.4 million
Executive & CEO: RM5.4 million
Non-Executive: RM3.1 million
CEO: RM5.4 million
2021
Group Total: RM7.5 million
Executive & CEO: RM4.9 million
Non-Executive: RM2.6 million
CEO: RM4.9 million
Executive & CEO: RM4.9 million
Non-Executive: RM2.6 million
CEO: RM4.9 million