RHB Investment Bank Berhad (RHBIB), the investment banking arm of RHB Banking Group wins two awards at the Bursa Excellence Awards 2017 held on 29 March 2018. RHBIB is recognised as Champion for the 2017 Best Retail Equities Participating Organisation and 2017 Best Retail Derivatives Trading Participant. The judging criteria for the awards includes trading value, regulatory and compliance aspects, as well as the number of Central Depository Systems (CDS) account openings for the year of assessment.
Robert Huray, Chief Executive Officer, RHB Investment Bank Berhad says, “RHBIB is committed to developing the local equities market by investing in technology and financial education for our clients whilst maintaining industry leading regulatory standards to better protect investors’ interest. These awards are testament to our dedication in establishing a robust investment environment that creates value for our customers.”
With a 54% increase in Profit before tax supported by higher revenue coupled with lower overheads and impairments, RHBIB’s retail equities business performed significantly better in 2017 y-o-y. RHBIB’s retail equities turnover also increased considerably by 44% as compared to 2016, whilst the 2017 turnover was higher than the increase in Bursa Malaysia’s turnover for the year.
Robrt adds, “RHBIB is committed to bringing new investors into the markets through expanding its margin financing business after doubling the number of new trading accounts in 2017 compared to 2016.”