Content
- Introduction
- The Bank History
- Details
- References
Introduction
RHB Bank Berhad (MYX: 1066) is a Malaysian bank based in Kuala Lumpur and founded in 1994. It is one of the largest banks in Malaysia.
RHB Bank has over 180 branches in Malaysia and provides a range of banking products and services for individuals, small businesses and corporates. RHB Bank is one of the few banks in Malaysia that offers Islamic banking products and services. These products are offered through its subsidiary, RHB Islamic Bank Berhad. RHB Islamic Bank has a wide network of branches and ATMs in Malaysia and provides a range of banking products and services that are compliant with Shariah principles.
RHB Bank is listed on the Bursa Malaysia and has a market capitalization of RM24.77 billion as of August 2022.
The Bank History
A wholly owned subsidiary of RHB Capital, RHB Bank Berhad is a result of three mergers –with Kwong Yik Bank Berhad, Sime Bank Berhad and Bank Utama (Malaysia) Berhad in 1997, 1999 and 2003. Its key milestones through the mergers are as follows:
Kwong Yik Bank Berhad was established in 1913 in Kuala Lumpur, making it Malaya’s first local bank. Amongst the bank’s co-founders were Chan Wing, Cheong Yoke Choy and Loke Yew.[3] In 1997, Kwong Yik Bank Berhad merged with DCB Bank Berhad, making it the country’s biggest ever banking merger at that time.
The United Malayan Banking Corporation Berhad (“UMBC”) was set up in 1959 and subsequently became the first commercial bank to be established in independent Malaya when it was officially declared open in 1960.
In 1996, UMBC became part of Sime Darby Berhad and was renamed Sime Bank Berhad. In 1999, it merged with RHB Bank and became part of RHB Banking Group.
Bank Utama was incorporated in 1976. In 1998, Bank Utama merged its business operations with that of Kewangan Utama Berhad. In 2003, RHB Bank merged with Bank Utama.
Details
Formerly RHB Capital Berhad
Company type Publicly traded state-owned enterprise
Traded as MYX: 1066
ISIN MYL1066OO009
Industry Banking and finance
Founded 1997, following the merging of DCB Bank and Kwong Yik Bank.
Founder Rashid Hussain
Headquarters Kuala Lumpur, Malaysia
Number of locations Malaysia – 278 branches
Area served Malaysia, Singapore, Thailand, Vietnam, Brunei, Cambodia, Laos, Indonesia, Hong Kong
Key people Tan Sri Ahmad Badri Mohd Zahir, Chairman
Mohd Rashid Mohamad, Group Managing Director/Group CEO
Products Banking and finance services
Revenue Decrease RM10.829 Billion (Fiscal Year Ended 31 December 2020)
Operating income Increase RM3.798 Billion (Fiscal Year Ended 31 December 2020)
Net income Decrease RM2.039 Billion (Fiscal Year Ended 31 December 2020)
Total assets Increase RM271.149 Billion (Fiscal Year Ended 31 December 2020)
Total equity Increase RM27.056 Billion (Fiscal Year Ended 31 December 2020)
Number of employees 14,010 (As of May 2022
Parent Employees Provident Fund
References
https://en.wikipedia.org/wiki/RHB_Bank
Disclaimer: This blog content is for informational purposes only and not professional financial advice. It is advisable to consult a financial advisor for personalized guidance.
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