Bank Rakyat gets go signal to increase share capital

Bank Rakyat received Bank Negara Malaysia's approval to increase its share capital from two billion to three billion.

According to Bernama News Agency, the Minister of Domestic Trade, Cooperatives and Consumerism Datuk Seri Ismail Sabri Yaakob announced that cooperatives and Bank Rakyat members will be given priority in subscribing to the new shares.

Ismail Sabri said demand for the Bank Rakyat shares is due to its encouraging performance, having successfully maintained the 15 per cent annual dividend since 1999.

He added that more than RM30 billion of the deposits in Bank Rakyat was now from the government, government agencies and government linked companies.