CEO Morning Brief

RHB Bank Appoints Phuah Shok Cheng as Acting CFO

Publish date: Fri, 01 Dec 2023, 09:00 AM
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TheEdge CEO Morning Brief

KUALA LUMPUR (Nov 30): RHB Bank Bhd has appointed Phuah Shok Cheng to serve as acting group chief financial officer (CFO) upon the expiry of current CFO Nik Rizal Kamil Nik Ibrahim Kamil’s contract on Dec 31.

She will serve as CFO “in the interim whilst the sourcing and assessment process for the group CFO role is in progress to ensure continuity of the office and accordingly a smooth transition”, said RHB in a bourse filing on Thursday.

Phuah, 46, has been the bank’s head of group capital and balance sheet management since May 2014.

Nik Rizal, 51, the former Khazanah Nasional Bhd executive director, was appointed as RHB’s CFO in February 2021, taking over from Syed Ahmad Taufik Albar.

RHB's net profit for the third quarter ended Sept 30, 2023 slipped to RM649.95 million, from RM695.41 million a year ago, mainly due to lower net fund-based income. Net interest income dropped 17% to RM915.61 million from RM1.10 billion.

Shares in RHB finished down four sen or 0.73% to RM5.45 on Thursday, giving it a market capitalisation of RM23.36 billion.

Read also:
Khazanah ex-director Nik Rizal Kamil appointed RHB Bank CFO
RHB Bank's 3Q earnings drop 6.5% on lower net fund based income

Source: TheEdge - 1 Dec 2023

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