May 22, 2017 1:49 PM ET

Banks

Company Overview of Bank Kerjasama Rakyat Malaysia Berhad

Company Overview

Bank Kerjasama Rakyat Malaysia Berhad, an Islamic cooperative bank, provides personal and business banking products and services in Malaysia. Its personal banking products and services include savings, deposits, and eCurrent accounts; personal, home, car, and education financing, as well as pawn broking; debit, credit, merchant, and other cards; and financial planning. Its business banking products and services include micro and business financing, and micro enterprise fund; rural development financing; credit guarantee corporation scheme; and CO-OP and entrepreneur programs. Its products and services also include consumer banking, commercial financing, investments, and mobile and online ban...

11th Floor

Bangunan Bank Rakyat

Jalan Tangsi

P.O. Box 11024

Kuala Lumpur,  50732

Malaysia

Founded in 1954

Phone:

60 3 2697 5011

Fax:

60 3 2612 9655

Key Executives for Bank Kerjasama Rakyat Malaysia Berhad

Managing Director and President
Age: 59
General Manager of Finance
Chief Retail Banking Officer
Chief Corporate Services Officer
Chief Officer and Senior General Manager of Risk Management
Compensation as of Fiscal Year 2016.

Bank Kerjasama Rakyat Malaysia Berhad Key Developments

BANK Rakyat Announces Cash Dividend for the Year Ended December 31, 2016

BANK Rakyat announced a 15% cash dividend to about 950,000 of its cooperative members, an exercise that involves an estimated payout of MYR 450 million. The payout is equivalent to 15% of its paid-up up capital of MYR 3 billion for the financial year ended December 31 last year, compared with 13% a year ago.

Bank Rakyat Reports Earnings Results for the Year 2016

Bank Rakyat reported earnings results for the year 2016. For the period, the company’s net profit after statutory appropriations of MYR 1.16 billion compared with MYR 1.3 billion in the year before. The bank managed to grow its top-line revenue 5.58%, or MYR 317.05 million, to MYR 6 billion compared with MYR 5.69 billion previously, mainly helped by strong financing and treasury-related activities. Total revenue, including other operating income for the group, grew at 3.52% to MYR 6.66 billion compared with MYR 6.43 billion previously.

Bank Rakyat Announces Management Changes

Bank Rakyat has said that it has hired a new managing director and president. Datuk Zulkiflee Abbas Abdul Hamid has been appointed to the new position, replacing Datuk Mustafha Abd Razak. Prior to the appointment, Zulkiflee served on the board of directors of Maybank Islamic and before that, he was Group Chief Executive Officer/Managing Director of Affin Bank from 2009 to 2015. He also served on a number of industry committees, including council member of the Association of Banks Malaysia as well as chairman of the audit committee of Malaysian Electronic Payment System.

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

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