Malaysia’s RHB Islamic’s third-quarter profit rise year-on-year soured by dip from June earnings
Malaysia’s RHB Islamic posted 35.94% increase in profit before tax for July-September versus the same period in 2018 but this was 5.6% lower than its second-quarter result.
“The lower profit was mainly attributed to higher allowance for credit losses by RM36.7 million, partially offset by higher net funding income by RM22.6 million, higher non-funding income by RM1.9 million and lower overhead expenses by RM0.8 million,” said the bank in a filing with Bursa Malaysia on Monday (Nov 25).
RHB Islamic reported 192.57 million ringgit ($46.13 million) in profit before tax for July-September compared to 141.66 million ringgit for the same period last year.
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