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KUALA LUMPUR: RHB Bank Bhd shares on Bursa Malaysia were on the uptrend in the early session today, as investors reacted positively to the bank’s encouraging financial results released last Friday.

As at 10.07 am, the counter gained 2.0 sen to RM5.53 with 701,200 shares changing hands.

The bank posted a larger net profit of RM701.34 million for the second quarter ended June 30, 2021, on higher total income and lower operating expenses compared to RM400.77 million a year earlier, although its revenue eased to RM2.93 billion from RM3.26 billion previously.

For the first half (H1) of 2021, net profit stood at RM1.35 billion versus RM971.65 million in H1 2020, while revenue slipped to RM5.83 billion from RM6.47 billion previously, it said in a filing with Bursa Malaysia.

“The group’s financial performance for the first half of the year demonstrates our resilience to record growth and the strength of our fundamentals, including our ability to sustain strong capital and liquidity positions despite the challenging operating environment,” the bank said in a filing with Bursa Malaysia on Friday.

Its board declared an interim dividend of 15 sen per share, equivalent to a payout ratio of 45.1 per cent. The interim dividend consists of cash payout of 5.0 sen per share and an electable portion under its dividend reinvestment plan of 10 sen per share. – Bernama

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