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Bank Rakyat On Course For Higher Profit This Year, To RM713 Mln |
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Written by Administrator
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Sunday, 22 April 2007 |
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KUALA LUMPUR, April 21 (Bernama) -- Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat) is targeting a profit before tax and zakat of RM713 million this year, its managing director Datuk Kamaruzaman Che Mat said today.
This is higher than last year's RM626.6 million, and the target is based on the bank's first quarter performance this year when it notched RM178 million in profit before tax and zakat, he said.
KUALA LUMPUR, April 21 (Bernama) -- Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat) is targeting a profit before tax and zakat of RM713 million this year, its managing director Datuk Kamaruzaman Che Mat said today.
This is higher than last year's RM626.6 million, and the target is based on the bank's first quarter performance this year when it notched RM178 million in profit before tax and zakat, he said.
Sixty percent of this Q1 profit was contributed by personal loans, 20 percent property, and 20 percent from pawn broking and car loans.
"So long as the country's economy remains strong and the consumer spending power is good, our target can be reached," he told reporters at Bank Rakyat's annual general meeting here.
Kamaruzaman said Bank Rakyat will open eight new branches this year to expand its network to 119 branches.
Entrepreneur and Cooperative Development Minister Datuk Seri Mohamed Khaled Nordin said when opening the AGM that Bank Rakyat, as a cooperative bank, must be proactive and not be left behind in the increasingly competitive market.
"With liberalisation of the banking sector, which opens doors to foreign and multinational players, the products and schemes offered by competitors is bound to have an impact on Bank Rakyat," he said.
"This matter must be carefully considered if Bank Rakyat wants to remain strong, successful and competitive."
Mohamed Khaled urged Bank Rakyat to effectively use its platform, the country's strong cooperative movement, to maintain its position as a full-fledged Islamic cooperative bank ranked among the largest financial institutions in the country.
Last February Bank Rakyat paid a 15 percent dividend to its members, for a total payout of RM298.5 million, hence maintaining the rate for eight consecutive years.
Source : BERNAMA |
