RHB Capital Bhd recorded a 29 per cent increase in pre-tax profit to RM922.2 million in the first half ended June 30, 2010 compared to a pre-tax profit of RM715.058 million posted in the same period in 2009.

Revenue rose to RM2.854 billion from RM2.696 billion, the banking group said in a statement today.

It said the strong profit performance was primarily contributed by higher net interest income and other operating income, coupled with lower allowance for impairment on loans, advances and financing.

RHB Bank Bhd continued to be the largest contributor to the group, accounting for 95 per cent of the group profit, it said.
For the period of six months to June 30, 2010 the bank recorded a pre-tax profit of RM876.6 million, up 35 per cent from a year ago.

Moving forward, the group was optimistic of a stronger market demand for banking products and services and the capital markets, which are expected to remain active in the second half of 2010. -- Bernama