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Bank Rakyat announces 15% dividend payment for 2016

Also present was Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Hamzah Zainudin.

Shukry said income from financing totalling RM6.43bil remained the biggest contributor to the bank’s profit.

“The increase in income from financing was due to the positive growth in retail loans, especially in the personal loans segment,” he said.

He said the bank’s gross financing balance recorded an increase of 7.32% year-on-year (y-o-y) or RM4.72bil to RM69.18bil, with personal financing growth being the main contributor.

“Consumer loans increased by RM4.83bil to RM64.42bil from RM59.58bil previously,” he said, adding that deposits increased 9.75% or RM6.92bil to RM77.9bil compared to RM70.98bil in 2015.

The bank’s total assets grew by 7.38% y-o-y to RM99.22bil, compared to RM92.4bil recorded in 2015, in line with the industry and driven by aggressive loan disbursement.

“Overall, Bank Rakyat has successfully maintained its position as the second biggest Islamic financial institution in Malaysia, in terms of asset size,” he said.

For 2017, he said, the bank had targeted a 6.5% growth in financing, driven by demand for personal loans.

Meanwhile, Hamzah said Bank Rakyat had contributed a total of RM51.01mil from its profit before tax and zakat, with RM34.01mil going to the Cooperative Societies Education Trust Fund and RM17mil to the Cooperative Development Provident Fund.

Bank Rakyat has a total of 950,000 members, with a paid-up capital totalling RM3bil. – Bernama

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