RHB Bank

RHB Bank Berhad

Formerly	Kwong Yik Bank Berhad
Company type	Publicly traded state-owned enterprise
Traded as	MYX: 1066
ISIN	MYL1066OO009
Industry	Banking and finance
Founded	1997;28 years ago (1997) following the merging of Kwong Yik Bank and DCB Bank. 1913;112 years ago (1913) (as Kwong Yik Bank)
Founder	Rashid Hussain
Headquarters	Kuala Lumpur, Malaysia
Number of locations	Malaysia - 234 branches
Area served	Malaysia, Singapore, Brunei, Cambodia, Laos, Indonesia, Thailand
Key people	Tan Sri Ahmad Badri Mohd Zahir, Chairman Mohd Rashid Mohamad, Group Managing Director/Group CEO
Products	Banking and financial services
Revenue	RM10.829 Billion (Fiscal Year Ended 31 December 2020) [1]
Operating income	RM3.798 Billion (Fiscal Year Ended 31 December 2020) [1]
Net income	RM2.039 Billion (Fiscal Year Ended 31 December 2020) [1]
Total assets	RM271.149 Billion (Fiscal Year Ended 31 December 2020) [1]
Total equity	RM27.056 Billion (Fiscal Year Ended 31 December 2020) [1]
Number of employees	14,010 (As of May 2022 [2] )
Parent	Employees Provident Fund
Website	rhbgroup.com

RHB Bank Berhad (MYX : 1066) is a Malaysian bank based in Kuala Lumpur and founded in 1997. It is the fourth largest fully integrated financial services group in Malaysia. ^[3]

RHB Bank has over 200 branches in Malaysia and provides a range of banking products and services for individuals, small businesses and corporates. RHB Bank is one of the few banks in Malaysia that offers Islamic banking products and services. These products are offered through its subsidiary, RHB Islamic Bank Berhad. RHB Islamic Bank has a wide network of branches and ATMs in Malaysia and provides a range of banking products and services that are compliant with Shariah principles.

RHB Bank is listed on the Bursa Malaysia and has a market capitalisation of RM24.77 billion as of August 2022.

History

RHB Bank in Jementah, Johor.

A wholly owned subsidiary of RHB Capital, RHB Bank Berhad is a result of three mergers –with Kwong Yik Bank Berhad, Sime Bank Berhad and Bank Utama (Malaysia) Berhad in 1997, 1999 and 2003. Its key milestones through the mergers are as follows:

• Kwong Yik Bank Berhad was established in 1913 in Kuala Lumpur, making it Malaya's first local bank. Amongst the bank's co-founders were Chan Wing, Cheong Yoke Choy and Loke Yew. ^[4] In 1997, Kwong Yik Bank Berhad merged with DCB Bank Berhad, making it the country's biggest ever banking merger at that time.
• The United Malayan Banking Corporation Berhad ("UMBC") was set up in 1959 and subsequently became the first commercial bank to be established in independent Malaya when it was officially declared open in 1960.
• In 1996, UMBC became part of Sime Darby Berhad and was renamed Sime Bank Berhad. In 1999, it merged with RHB Bank and became part of RHB Banking Group.
• Bank Utama was incorporated in 1976. In 1998, Bank Utama merged its business operations with that of Kewangan Utama Berhad. In 2003, RHB Bank merged with Bank Utama.

In 2017 a merger was proposed between RHB Bank and AmBank Group, ^{[5] [6]} but was scrapped as the parties failed to agree on mutually acceptable terms and conditions. ^[7]

References

1. "RHB Bank Berhad 2020 Annual Report". RHB Group. 31 December 2021. Retrieved 14 July 2021.
2. "Who We Are". www.rhbgroup.com. RHB Malaysia. Retrieved 20 May 2022.
3. "RHB Bank officiates 210th branch in Kota Tinggi". New Straits Times. 8 January 2018. Retrieved 15 June 2018.
4. Khor, Neil (2019). Loke Yew : A Malayan Pioneer. Zamilyn Sdn Bhd. ISBN   978-9671758601.
5. Dass, Francis (1 June 2017). "AmBank, RHB get Bank Negara nod to proceed with merger talks". New Straits Times.
6. "RHB Bank, AmBank up as investors positive on merger". The Star. 2 June 2017. Retrieved 15 August 2017.
7. "RHB-AmBank merger fails to take off". The Star. 23 August 2017. Retrieved 30 September 2017.

External links

• Official website

• Banks portal