29/05/2025

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BIZ & FINANCE THURSDAY | MAY 29, 2025

RHB posts RM750m first-quarter net profit

Takaful Malaysia turns in steady Q1 performance

KUALA LUMPUR: Sya rik at T a k a ful Ma l ays i a K e lu a r ga Bhd r e por te d a 19% yea r-on- yea r in c r ease in ta k a ful r e v e nu e, r eac hin g R M 9 8 0 . 6 million for t h e fir st qu a r te r e nd e d Ma r c h 31 , 2025 . Thi s r e pr ese n ts a n in c r ease of R M 154 . 6 million c omp a r e d t o R M8 26 million r ec ord e d in t h e c orr es pondin g p e riod l ast yea r . Th e ta k a ful r e v e nu e g ro wt h was prim a ril y driv e n by hi g h e r c on t ri b u t ion s from t h e f a mil y ta k a ful seg m e n t, p a r t i c ul a rl y from t h e c on t inu e d ex p a n s ion of t h e g roup c r e di t b u s in ess. For t h e fir st qu a r te r e nd e d Ma r c h 31 , 2025 , g roup CEO Nor Azm a n Z a in a l sa id t h e g roup r ec ord e d a profi t be for e tax a nd z a k at of R M 151 . 1 million , s li g h t l y hi g h e r t h a n t h e R M 150 . 3 million r e por te d in t h e c orr es pondin g p e riod l ast yea r . Thi s, h e a dd e d , r e fl ects t h e g roup’ s fund a m e n ta l s, w h e r e t h ey c on t inu e t o op e r ate s u sta in ab l y d es pi te a c h a ll e n g in g m a rk et e nvironm e n t. “Our f a mil y ta k a ful b u s in ess ge n e r ate d ta k a ful r e v e nu e of R M 60 8. 2 million for t h e fir st qu a r te r of 2025 , in c r ease d s u bsta n t i a ll y by 35% as c omp a r e d t o R M 449 . 6 million in t h e sa m e p e riod l ast yea r , m a inl y att ri b u tab l e t o t h e hi g h e r a moun t c h a r ge d for ta k a ful c ov e r age of R M 93 . 2 million a nd hi g h e r c on t ri b u t ion r e l ease of R M 44 . 3 million . Our ge n e r a l ta k a ful a rm po ste d ta k a ful r e v e nu e of

R M 343 . 5 million for t h e qu a r te r und e r r e vi ew, s li g h t l y lo we r t h a n t h e R M 350 . 4 million po ste d for 2024 , as we c on t inu e t o fo c u s on t h e qu a li ty of b u s in ess ac quir e d , ” sa id Nor Azm a n . H e a dd e d t h at t h ey m a in ta in e d a r es ili e n t p e rform a n ce in t h e fir st qu a r te r of t h e yea r , driv e n by t h e st r e n gt h of t h e ir c or e b u s in ess por t folio s in ba n cata k a ful , t r eas ur y, e mplo yee be n e fi ts, a nd ge n e r a l ta k a ful . “K a o t im , our di g i ta l pl at form a nd b r a nd , c on t inu es t o ga in m a rk et po s i t ion a nd d e liv e r po s i t iv e r es ul ts by off e rin g a fford ab l e a nd access i b l e onlin e pro tect ion pl a n s. In lin e w i t h e volvin g m a rk et n ee d s, we a r e in te n s if y in g our e ffor ts t o g ro w our pr ese n ce in t h e r eta il seg m e n t, a imin g t o provid e Ma l ays i a n s w i t h g r eate r access t o c ompr e h e n s iv e a nd c o st - e ff ect iv e pro tect ion s olu t ion s, ” h e sa id . In 2025 , T a k a ful Ma l ays i a i s st r e n gt h e nin g i ts s u sta in ab ili ty age nd a w i t h a r e n ewe d fo c u s on e nvironm e n ta l , s o c i a l , a nd g ov e rn a n ce priori t i es. Th e g roup i s rollin g ou t ta r gete d ini t i at iv es e n c omp ass in g c lim ate ri s k r es ili e n ce, ec o- c on sc iou s op e r at ion a l pr act i ces, et hi ca l inv est m e n t a ppro ac h es, a nd in c lu s iv e c ommuni ty d e v e lopm e n t pro g r a mm es. Th ese e ffor ts r e fl ect T a k a ful Ma l ays i a ’ s e volvin g st r ategy t o in teg r ate s u sta in ab ili ty in t o i ts b u s in ess mod e l w hil e c r eat in g lon g te rm v a lu e for sta k e hold e r s.

o Boosted by stronger fund-based income and better credit cost control, reflecting sound risk management

macroeconomic uncertainties. Whereas the bank’s CET-1 and TCR stood at 14.7% and 17.4%, respectively. Loan loss coverage ratio including regulatory reserves, improved to 115.7%, reflecting sound provisioning practices. Domestic loan growth of 4.7% (annualised) outpaced the industry’s 4.3%, while the group’s GIL ratio remained well-contained at 1.5%, and the domestic GIL ratio was below the industry average, demonstrating sound credit quality. The group remains cautious amid shifting rates and global trade uncertainty. The recent reduction in Statutory Reserve Requirement by Bank Negara Malaysia is expected to provide funding flexibility in the quarters ahead. “Our new 3-year strategic roadmap, PROGRESS27, sets a clear course towards becoming the best in service, enhancing profitability, and reinforcing our purpose-driven commitment. 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,” said Mohd Rashid.

KUALA LUMPUR: RHB Bank Bhd registered a net profit of RM750 million in the first quarter of its financial year ending Dec 31, 2025 (Q1’25), an increase of 2.7% from the previous corresponding period. This was primarily attributed to higher net fund-based income and improved credit cost management, reflecting the group’s disciplined risk management and strong base. Total income stood at RM2 billion, a marginal dip of 1.9% Y-o-Y mainly from contraction in non-fund based income due to lower net gain on forex and derivatives, and net trading and investment income. The group maintained operational stability, supported by prudent cost management, continued strength in capital and liquidity positions. Cost growth was contained at 1.2% whilst CIR stood at 47.4% from 45.9% a year ago, reflecting the marginal contraction in income. RHB Banking Group managing director/group CEO Datuk Mohd

Rashid Mohamad remarked, “We sustained our earnings growth momentum in the first quarter, underpinned by solid fundamentals and early traction from our PROGRESS27 strategy. Our cost optimisation efforts are beginning to deliver results, enabling us to contain expenses while driving growth in key segments. At the same time, our continued focus on asset quality has led to a reduction in credit cost. We remained disciplined in execution, strengthening our core capabilities, driving operational excellence, and unlocking new growth opportunities.” The group’s total assets rose to RM353 billion, supported by healthy balance sheet growth and prudent capital management. At group level, the shareholders’ equity stood at RM32 billion, with the Common Equity Tier-1 (CET-1) ratio of 16% and Total Capital Ratio (TCR) at 18.5%, reinforcing a strong capital position to support future growth ambitions, as well as to cushion

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