Bank Rakyat announces 15pc dividend for 2023

Bank Rakyat today announced a dividend rate of 15% for 2023.

This works up to a total payout of RM424.62 million.

The payout was possible after the group posted a 3.8% increase in profit before tax and zakat of RM1.76 billion for 2023.

Bank Rakyat says the group's core income grew 12.9% in 2023 due to solid growth in gross financing balance across all business segments.

Its better performance was further supported by higher fee-based and other income, which improved by 31.58%, to RM580.00 million

The group’s total assets grew by 1.16%, or RM1.36 billion, to RM 118.69 billion.

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