SINGAPORE, RHB Singapore, a key subsidiary of Malaysia’s fourth-largest banking group, is set to play a central role in driving the group’s regional expansion and achieving key financial targets, including a return on equity (ROE) of 12% by 2027, a senior executive said on Friday.
Singapore’s favourable tax environment, political stability, and status as a gateway to Southeast Asia continue to attract ultra-high-net-worth investors and financial institutions, reinforcing its position as a leading regional financial hub.
RHB group managing director and CEO Datuk Mohd Rashid Mohamad
To further strengthen its presence, RHB Singapore appointed Goh Ken-Yi as CEO earlier this year, with a focus on enhancing digital capabilities and delivering innovative financial solutions.
RHB Singapore recorded strong financial performance in 2023, with pretax profit surging 95.6% year-on-year to S$98.7 million (US$76.82 million).
“RHB Singapore’s outstanding performance reflects the forward momentum we aim to replicate across all our key markets,” said RHB Group Managing Director Datuk Mohd Rashid Mohamad during a press briefing.
Beyond Singapore, RHB maintains a regional presence with operations in Cambodia, Thailand, Laos, and Brunei.
According to its 2024 Annual Report, the Group achieved an ROE of 10.04% in 2023. It now targets reducing its cost-to-income ratio to below 44.8% and its gross impaired loans ratio to under 1.3% by 2027—improving from last year’s 46.7% and 1.47%, respectively.
