KUALA LUMPUR: RHB Investment Bank Bhd (RHBIB), the investment banking arm of RHB Banking Group, won two awards at the recent Bursa Excellence Awards 2017 held on March 29, 2018.
RHBIB was recognised as Champion for the 2017 Best Retail Equities Participating Organisation and 2017 Best Retail Derivatives Trading Participant.
The judging criteria for the awards included trading value, regulatory and compliance aspects, as well as the number of Central Depository Systems (CDS) account openings for the year of assessment.
This year, Bursa Malaysia also took into consideration year-on-year growth of transacted value.
RHBIB chief executive officer Robert Huray was at hand to receive the awards.
“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,” said Huray.
RHBIB’s retail equities business performed significantly better in 2017 year-on-year with a 54 per cent increase in profit before tax supported by higher revenue coupled with lower overheads and impairments.
RHBIB’s retail equities turnover also increased considerably by 44 per cent as compared to 2016, whilst the 2017 turnover was higher than the increase in Bursa Malaysia’s turnover for the year.
“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,” Huray added.