Kuala Lumpur: Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat) has announced a dividend distribution of 17 per cent, amounting to RM486.32 million for the financial year ended Dec 31, 2024 (FY2024). The dividend will benefit 773,859 eligible members and will be disbursed beginning today.

According to BERNAMA News Agency, Entrepreneur Development and Cooperatives Minister Datuk Ewon Benedick, whose ministry oversees Bank Rakyat, emphasized that the bank has maintained a double-digit dividend payout for the past 20 years. He attributed this achievement to Bank Rakyat’s commitment to enhancing the economic well-being of its members and customers, while also aiming to provide equity and prosperity across all levels of society.

Earlier, Bank Rakyat chairman Datuk Mohd Irwan Mohd Mubarak noted a 3.15 per cent year-on-year increase in profit before tax and zakat to RM1.82 billion, up from RM1.76 billion in FY2023. He credited this growth to a solid foundation and focus on core activities, supported by improving domestic economic conditions, which enabled the bank to remain resilient despite global economic uncertainties and an increasingly challenging banking environment.

Meanwhile, Bank Rakyat’s newly appointed chief executive officer, Ahmad Shahril Mohd Shariff, expressed the bank’s aim to maintain its growth momentum by targeting the non-Bumiputera market. He mentioned ongoing collaborations with partners to explore this segment, highlighting several programmes launched for the Indian community. He stressed the importance of working with key players to reach this market, noting that a majority of the bank’s depositors are non-Bumiputera, which offers a strong existing customer base.