RHB CAPITAL Group reported a higher pre-tax profit of RM453.2 million in the third quarter ended Sept 30, 2010, as compared to RM447.9 million achieved in the preceding quarter.

The profit was achieved on a higher revenue of RM1,616.6 million from RM1,338.9 million previously.

For the nine-month period, the group recorded a pre-tax profit of RM1,375.3 million compared to RM1,161.3 million in the previous year, on revenues of RM4,470.6 million and RM4,034.6 million respectively.

RHB Capital in a statement today said the higher profit was mainly attributed by the higher net interest income and lower impairment losses on other assets, partially offset by higher allowance for impairment on loans, advances and financing and higher other operating expenses.

For the year's prospect, the group said the introduction of EASY by RHB has progressed well, with over 100 outlets opened to date and enabled the Group to successfully further penetrate the retail market and gaining traction in its domestic market position.

It added, the retail and capital market activities will continue to be active for the rest of the year, and with the infrastructure being put in place over the past 18 months, the group is well-poised to reap the benefits of the continued economic growth in the country. - BERNAMA