RHB Bank’s Third-Quarter Web Revenue Rose 1.0% Regardless of Stress on Curiosity Margin
Dow Jones – RHB Bank’s Third-Quarter Web Revenue Rose 1.0% Regardless of Stress on Curiosity Margin
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By Chester Tay
RHB Bank Bhd.’s third-quarter internet revenue inched up 1.0% regardless of a weaker internet curiosity margin.
Web revenue rose to 622.2 million ringgit ($152.9 million) after accounting for earnings from the group’s stockbroking enterprise in Singapore, which was bought within the quarter, the bank mentioned on Monday.
Web curiosity earnings fell 1.1% to MYR905.6 million.
For the primary 9 months of 2020, RHB’s internet revenue dropped 15% on yr to MYR1.58 billion, whereas income grew 0.5% to MYR2.69 billion.
RHB mentioned it’s in a superb place to navigate via the challenges posed by the pandemic because the group had adequate liquidity and strong capital ranges.
The group mentioned its present loan loss protection stays comfy and it has ample room to soak up any potential enhance in credit score losses.
Write to Chester Tay at chester.tay@wsj.com
(END) Dow Jones Newswires
November 30, 2020 01:28 ET (06:28 GMT)
Copyright (c) 2020 Dow Jones & Firm, Inc.
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Dow Jones – RHB Bank’s Third-Quarter Web Revenue Rose 1.0% Regardless of Stress on Curiosity Margin
