Revenue, however, was 22% y-o-y higher at RM4.21 billion against RM3.44 billion previously, the bank said in a filing with Bursa Malaysia today.

For the nine-month cumulative period, RHB said its net profit registered an increase of 16.4% year-on-year at RM2.22 billion versus RM1.9 billion, mainly due to higher non-fund-based income and lower expected credit losses.

Meanwhile, revenue surged to RM12.18 billion from RM9.2 billion for the same period in 2022.

Operating expenses increased 3.3% to RM2.71 billion from higher personnel costs, attributed mainly to collective agreement adjustments, and higher establishment and marketing costs.

Group managing director Rashid Mohamad said RHB Bank would remain vigilant moving forward as external risks such as geopolitical tensions and market slowdown may dampen growth.

“We will be revising our sustainable financial services commitment upwards to continue expanding and maximising our impact in supporting our customers in their sustainability journey.

“Our Group Climate Action programme is progressing well and we are on track to developing our pathway to net zero by 2050,” he said.