09-05-2025
- Business
- New Straits Times
RHB unveils Progress27 roadmap to chart next course of growth
KUALA LUMPUR: RHB Bank Bhd unveiled its new three-year strategic roadmap at its shareholders' meeting on Thursday.
The new Progress27 roadmap charts the course for future growth after RHB delivered a commendable net profit of RM3.1 billion for the financial year ended Dec 31 2024 (FY2024) that marked an 11.2 per cent year-on-year increase.
The roadmap is anchored on service excellence, high profitability and a continued commitment to being a responsible and purposeful financial services group.
"Together We Progress 24 (TWP24) corporate strategy has laid a solid foundation for us, as we embark on our next chapter with Progress27.
"Our focus remains firmly on delivering long-term value to all stakeholders," said RHB chairman Tan Sri Ahmad Badri.
Meanwhile, the group said its strong FY2024 performance was driven by solid growth in total income and strong cost discipline.
Total income rose 10.7 per cent to RM8.6 billion, while return on equity improved to 10.04 per cent.
The group's capital position remains solid, with a common equity tier-1 ratio of 16.4 per cent and total capital ratio of 19 per cent.
In recognition of its strong performance, RHB declared a total dividend of 43 sen per share for FY2024, translating into a 60.1 per cent payout ratio and a 6.6 per cent dividend yield.
RHB also reaffirmed its commitment to responsible and sustainable finance, raising its sustainable financial services target to RM90 billion by 2027, up from the original RM50 billion by 2026.
Since launching its sustainability strategy in 2022, the group has mobilised over RM41 billion, achieving 82 per cent of its initial target.
"Under Progress27, our key priorities are to deliver exceptional customer experiences through innovation and seamless digital solutions, achieve high profitability through sustainable growth and operational excellence, and strengthen our role as a responsible and purposeful financial services group," Ahmad Badri said.
All resolutions tabled at the meeting were duly passed, including the re-election of Tan Sri Ong Leong Huat @ Wong JooHwa, Datuk Mohamad Nasir Ab Latif, Donald Joshua Jaganathan and Datuk Mohd Rashid Mohamad as members of the board of directors.
