Malaysia's best bank for CSR 2022: RHB Bank
The way RHB Banking Group responded to Malaysia’s overlapping crises these last two years is nothing short of impressive.
Credit goes to the team led by group CEO Mohd Rashid Mohamad, which has focused on community support while ensuring strong financials.
In 2021, net profit rose 28.8% year on year to $588 million. Loan growth, higher fee income and lower allowances for credit losses all helped to support profitability.
With about 14,000 employees, RHB is among the largest fully integrated financial services groups in southeast Asia’s third-biggest economy; its core businesses are in wholesale, community, Shariah, insurance and international banking. It also has a busy presence in countries including Singapore, Indonesia, Thailand, Brunei, Cambodia, Vietnam, Myanmar and Laos.
Among the places where RHB really shines, however, is supporting communities at home. Its corporate responsibility journey started in 2007 with a focus on enriching and empowering the local population.
In late 2015, the bank went much bigger, establishing the RHB Foundation. The mission got bigger, too: supporting marginalized and disadvantaged Malaysians, especially children and youth.