KUALA LUMPUR, Feb 27 (Bernama) -- RHB Bank Bhd expects its stellar financial year of 2024 (FY2024) performance to continue into FY2025, banking on the positive loan growth of between six to seven per cent, said managing director and chief executive officer Datuk Mohd Rashid Mohamad.
He said the group’s community banking, mortgages, auto finance, as well as small and medium-sized enterprise (SME) products, will drive the expected loan growth.
“We believe Malaysia’s economic growth will remain at five per cent, with strong domestic demand helping us grow our loan portfolio.
“And typically, along many corridors in Malaysia, there are ongoing public infrastructure projects that will help spur the economy, ultimately leading to increased economic activity in the country,” he said after the bank’s FY2024 results briefing today.
Earlier, RHB Bank said in a Bursa Malaysia filing that its FY2024 net profit increased to RM3.12 billion from RM2.81 billion in FY2023, driven by strong total income growth, while revenue also rose to RM17.91 billion from RM16.58 billion previously.
RHB Bank has also launched Progress27, its new three-year strategic roadmap for 2025–2027. It focuses on delivering exceptional customer service, driving high profitability, and reinforcing its position as a responsible and purposeful financial services group.
Under the new strategic roadmap, Mohd Rashid noted that the bank aims to expand its capital expenditure over the next three years, allocating between RM700 million and RM900 million for information technology (IT) modernisation and automation.
He highlighted that increased spending on digitalisation and automation, as well as integrating artificial intelligence (AI), will support the bank’s growth, particularly in wealth management.
Mohd Rashid added that over the years, RHB Bank has been leveraging AI for collections, data analytics, and customer personalisation, which is in line with industry trends.
He also said the bank is also reskilling its workforce with AI training to remain competitive.
Mohd Rashid added that the bank’s headquarters is currently working closely with its branch in Singapore to identify and capitalise on business opportunities, particularly the Johor-Singapore Special Economic Zone, which the bank sees as a key growth area.
Apart from Johor, Sarawak and Penang are also among the key economic corridors the bank will focus on.
-- BERNAMA
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