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RHB Capital looking at greater participation in Indonesian market

April 10, 2012

KUALA LUMPUR: RHB Capital is looking forward to greater participation in Indonesia through the proposed acquisition of Bank Mestika.

Group managing director Kellee Kam Chee Khiong said the group was placing priority on completing the proposed acquisition and hoped to participate in the Indonesian market by year-end.

On the proposed acquisition of OSK Investment Bank Bhd, he said the group hoped to conclude the deal by the third quarter.

“We look forward to the successful acquisition of OSK Investment Bank Bhd and the immediate benefits that come by way of reinforcing our domestic market leader franchise while gaining immediate access to important regional markets,” he added.

Kam was speaking after RHB Capital’s annual general meeting here today.

He said the group remains cautiously optimistic of its prospects for 2012 and was seeking to further strengthen the existing operations in Singapore and Thailand.

For the financial year ended Dec 31, 2011, the group registered a profit before tax of RM2 billion, representing a 5.3 per cent increase over 2010′s profit before tax (PBT) of RM1.9 billion.

For the financial year in review, the group’s net interest income rose by 4.3% to RM2.8 billion on the back of a strong loans growth of 16.2%.

- Bernama


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