Bank Rakyat 2009 profit up 18%

Report showed lender as Malaysian leader in ROA with its $336.92mln net.

Bank Rakyat posted RM1.126 billion ($336.92 million) higher after-tax profit and zakat last year as compared with RM954 million ($285.46 million) in 2008, up RM172 million or 18 percent, said general manager (branch operations) Ahmad Kidzbullah Ridzuan.

Being Malaysia's biggest Islamic co-operative bank, Bank Rakyat can sustain its position as the best Islamic institution by offering diverse financial facilities like consumer banking products, commercial financing and related services, he said.

On micro-credit, Ahmad Kidzbullah said the soft loan scheme received encouraging response from petty traders in the east coast especially from Kelantan and Terengganu.

Over RM3 million ($897,666) worth of soft loans have been disbursed to petty traders in Terengganu alone, he said.

View the full story in Bernama.