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RETAIL BANKING | Cesar Tordesillas, Singapore
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RHB Bank beefs up Singapore operations with SG$350M capital fund

RHB Bank added SGD350 million to its capital fund for its Singapore operations, which contributes more than 90 per cent to its international profits and is its largest contributing overseas unit.

 

This brought the total capital commitment in Singapore to around SGD620 million.

"We remain positive of our long-term expansion in Singapore and in 2010, RHB Bank Singapore achieved a recorded 49 per cent growth in profit after tax compared to 2009, and a return on equity of more than 20 per cent," said RHB Bank chairman Tan Sri Azlan Zainol.

"We are very confident of the future prospect of Singapore, which in turn will continue to be an important market to the group."

The bank has a network of seven branches situated in various locations and also operates 15 bureau de change outlets at the Changi Airport.

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