Company Overview of Bank Kerjasama Rakyat Malaysia Berhad
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...
Bangunan Bank Rakyat
P.O. Box 11024
Kuala Lumpur, 50732
Founded in 1954
Key Executives for Bank Kerjasama Rakyat Malaysia Berhad
General Manager of Finance
Chief Retail Banking Officer
Chief Strategy and Planning Officer
Chief Officer and Senior General Manager of Risk Management
Compensation as of Fiscal Year 2014.
Bank Kerjasama Rakyat Malaysia Berhad Key Developments
Bank Rakyat Declares Total Cash Dividend for the Financial Year Ended December 31, 2013; Reports Earnings Results for the Financial Year Ended December 31, 2013
Mar 13 14
Bank Rakyat declared a total cash dividend of 15% against 16% a year ago, amounting to MYR 446 million, for the financial year ended December 31, 2013.
The bank recoded a profit before tax and zakat (tithe) of MYR 2.13 billion, unchanged from the previous year. The bank contributed 2% or MYR 42.51 million of its profits before tax and zakat to the Co-operative Education Trust Fund and 1% or MYR 21.25 million, to the Co-operative Development Provident Fund. The bank's net profit increased 8.7% to MYR 1.91 billion compared with MYR 1.75 billion recorded in 2012. Gross income remained high at MYR 6.07 billion, driven by income from financing of MYR 4.68 billion, and other operating income rose to MYR 522.26 million from MYR 433.01 million previously. The bank allocated MYR 300 million for capital expenditure this year, of which over MYR 100 million would be utilised to upgrade its banking system, MYR 50 million to open five branches and the balance to purchase office equipment.
Bank Rakyat Launches MYR 500 million Islamic Medium-Term Notes
Dec 23 13
Bank Rakyat announced the launch of a MYR 500 million three- and five-year sukuk musharakah, the bank's second Islamic bond issuance. The issuance of the MYR 500 million sukuk is part of the proposed Islamic medium-term notes programme of up to MYR 9 billion in nominal value issued via an appointed funding conduit, Imtiaz Sukuk II Bhd. The sukuk issuance will provide the bank with a more diversified and stable medium- and long-term funding and allow Bank Rakyat to achieve a stronger and more resilient balance sheet. The issuance will be in tranches of MYR 200 million raised under the three-year notes with annualised return of 4.30% and MYR 300 million under the five-year term notes with annualised return of 4.45%.
Bank Rakyat Announces to Open Branches in Bandar Marang and Kuala Berang
Nov 28 13
Bank Rakyat announced that it will open branches in Bandar Marang and Kuala Berang to meet the demand for banking services and expand its operations in the oil-rich state. The branch in Bandar Marang will be opened early next month and the one in Kuala Berang early next year. The opening of the two branches brings to eight the number of branches in the state, adding that another branch in Setiu is still under negotiations.
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