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Bank likely to achieve target of RM2 bln profit

Posted on January 16, 2013, Wednesday

CONGRATULATIONS: Sabbaruddin (far right) hands over the cheque to SJK(C) Tiong Hin’s headmaster Alex Wong (far left) witnessed (from second left) by Azman and Yusof. The school won the nationwide ‘Save & Win’ contest for the school category.

SIBU: Bank Rakyat’s target of RM2 billion profit before tax and zakat for fiscal year 2012 will likely be reached, according to its chairman Tan Sri Dato Sri Sabbaruddin Chik.

He was addressing bank customers at a hotel here on Monday night.

According to him, until end of the third quarter last year, Bank Rakyat recorded a profit before tax and zakat of RM1.62 billion, an increase of 8.1 percent from RM1.5 billion for the same period the previous year.

“Looking at our performance, I am confident we can achieve our targeted profit of RM2 billion before tax and zakat by end of 2012,” he said.

He said based on Top 500 Islamic Financial Institutions Report (November 2011-November 2012), Bank Rakyat had assets value of RM77.46 billion until September 2012, making it the largest Islamic cooperative bank in Malaysia and Southeast Asia.

“And according to The Banker in its 2012 Top 1,000 World Bank Report, Bank Rakyat is the country’s top bank for their Return On Asset (ROA),” he reported.

He said the Association of Islamic Banking Institutions Malaysia (Aibim) recognised Bank Rakyat’s achievement and awarded it Most Profitable Islamic Bank 2010/2011.

During the Kuala Lumpur Islamic Finance Forum 2012, the bank received The Most Outstanding Islamic Retail Banking Award.

He said Bank Rakyat pledged to give the best service to customers.

To cater to the needs of customers nationwide, Bank Rakyat launched moving bank services in Felda Bukit Mendi, Bera, Pahang recently.

“This is our latest innovation and we will expand to Sarawak in stages this year,” he revealed.

He talked on the ‘Save & Win’ campaign which started Oct 1, 2012 and ends on March 31 this year.

According to him, every customer who deposits a minimum of RM500 into Saving-i Account or RM1,000 into Makeen Deposit-i Account is eligible for the lucky draw.

Also present were the bank’s director Dato Dr Syed Hussain Syed Husman, managing director Dato Yusof Abdul Rahman, regional manager Azman Abdul Aziz, Sibu branch manager Adnan Abdul Wahab, Sibu Resident Sim Kok Kee, and Temenggong Datuk Wan Hamid Edruce Tuanku Mohamad.

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