WHO'S THE MOST CHARITABLE?
How RHB Bank Berhad Gives Back To Society?
RHB Bank Berhad
RHB Bank Berhad, a multinational regional financial services provider, strives to offer comprehensive financial solutions to its customers. As a leading financial institution in Malaysia, RHB has firmly established its presence and brand through a wide range of products and unique value propositions. With the support of nearly 14,000 employees across the Group, RHB’s reach extends to seven other countries in the ASEAN region. In addition to its strong presence in Malaysia, RHB has a regional footprint that spans seven other ASEAN countries. RHB is committed to creating a positive impact through its sustainability pillars: Sustainable and Responsible Finance, a Commitment to Achieving Net Zero by 2050, Embedding Good Practices, and Enriching and Empowering Communities.
Fiscal Year-End: 31 December 2023
The net profit of RHB Bank Berhad increased in FY2023 to RM2.81 billion from RM2.70 billion during the previous financial year.
The year on year net profit growth at RHB Bank Berhad is at 3.80%
The Group declared a higher dividend payout ratio for FY2023 at 61.1% or 40 sen per share.
The total amount of Zakat Distributed to State Zakat Authorities by RHB is RM10 million during FY2023.
Total cash contributions made by RHB during FY2023, was RM4.99 million. This contribution was made through community investment benefiting over 50,000 people.
Total in-kind contributions are not defined due to incomplete data. However, contributions are still accounted for under the RM4.99 million contribution made through community investment.
The total employee volunteer hours reported by RHB Bank Berhad are not specified in their annual and sustainability report.
RHB Bank Berhad:
Cash, In-Kind and Employee Volunteer Hours
| No. | Contribution | Based on Previous Yr | Cash Giving | In-kind Giving | Employee Volunteer Hours | Beneficiaries | |||
|---|---|---|---|---|---|---|---|---|---|
| 1 | RHB #JomBiz |  | N/A | Seed funding worth RM0.22M | N/A | 60 MSMEs, 329 microbusinesses | RHB #JomBiz is a social empowerment program designed to uplift micro, small, and medium enterprises (MSMEs) with an annual sales turnover of not more than RM300,000 through capability-building, mentorship, and provision of seed funding. Since its inception in 2022, 470 microbusinesses have participated in RHB #JomBiz. In FY2023, the program granted seed funding amounting to RM224,000 to 60 promising businesses.The program empowers and trains selected participants, enabling them to become IKON RHB, who take on leadership roles by guiding and mentoring future cohorts, thereby improving their microbusiness skills. Participants are also given the opportunity to engage with corporate customers in a new business environment, with a total of five #JomBiz Bazaars held throughout 2023. The implementation of the program is supported by strategic partners SME Corporation Malaysia and Taylor’s Community. Additionally, an allocated Zakat Fund of RM20,850 was utilized to support the program, leading to 37 asnaf MSMEs completing the program and receiving seed funding of RM1,200 each from the Bank. | Increase | Decrease |
| 2 | RHB Money Ma$ter Programme |  | N/A | Financial literacy programme | N/A | 10,828 students, 45 schools | Since 2018, the RHB Money Ma$ter Programme, endorsed by the Ministry of Education, has consistently provided financial literacy education to school-going youths nationwide. In 2023, the programme reached 10,828 students across 45 secondary schools, an increase from the 10,165 students reached in 2022. To date, the programme has impacted over 44,000 students across nearly 250 schools. This financial literacy initiative aims to educate secondary school students on managing their finances and instilling the importance of saving from a young age. The programme includes a 90-minute interactive session that covers key topics such as money management, saving tips, and financial scam awareness. | Increase | |
| 3 | Advocacy, Awareness and Sharing Session | N/A | Financial literacy programme | N/A | Beneficiaries | RHB have also hosted a sharing session titled “Investing for Gen Z” at Sunway University as part of our efforts. | |||
| 4 | Singapore Financial Literacy Programme | N/A | Financial literacy programme | N/A | 304 youths | Aligned to the Group’s efforts to promote financial literacy, RHB Singapore conducted three rounds of its financial literacy programme in FY2023, reaching 304 youths | |||
| 5 | RHB X-Cel Academic Excellence Programme | N/A | Scholarship | N/A | 2880 students | The RHB X-Cel Academic Excellence Programme is designed for Form 4 and Form 5 students across Malaysia, specifically targeting those from the B40 segment. The programme aims to harness education as a tool for fostering upward mobility among lower-income youths, thereby generating positive effects on their families and communities. It includes scheduled tuition classes and preparatory sessions to help students prepare for the Sijil Pelajaran Malaysia (SPM) Examination. Since its inception in 2018, the RHB X-Cel Academic Excellence Programme has positively impacted 9,368 secondary school students. | |||
| 6 | RHB X-Cel Star Scholarship | N/A | Scholarship | N/A | 10 scholars | The RHB X-Cel Star Scholarship Programme aims to enable bright students to pursue higher education at local tertiary institutions. RHB invites students who excelled in their SPM exams to participate in the RHB X-Cel Star Scholarship selection process. The programme places strong emphasis on the importance of individualised mentorship for both academic and personal growth. From 2021 to 2023, a cumulative total of 30 dedicated RHB Management Associates have volunteered as mentors, providing individual guidance and committing their time and expertise to support these students. These mentoring efforts are designed to make a lasting impact on the educational journeys of the students, reinforcing RHB's commitment to fostering growth and inclusivity within the community. Since 2019, over RM1.27 million has been disbursed through the RHB X-Cel Star Scholarships, benefiting 48 students. | |||
| 7 | RHB Art With Heart | N/A | Art exhibition | N/A | 181 artists | Our Art With Heart programme is dedicated to championing local emerging Malaysian artists and exceptionally talented individuals. Through our exclusive art exhibition, we showcase the exceptional works of these budding artists, providing a unique opportunity for our valued customers and business partners to appreciate and invest in a distinctive collection of artworks. In 2023, our art exhibition proudly featured the creative talents of local up-and-coming artists, including Persons with Disabilities (PWD) for the second consecutive year since 2022. The exhibition included artists with Down Syndrome, autism, ADHD, hearing impairments, and other disabilities, marking a meaningful step towards inclusivity and contributing to a truly diverse and supportive community. Since 2016, we have exhibited 587 artworks, with 264 pieces sold, involving 181 participating artists. To date, the programme has collected over RM1.17 million in sales. | |||
| 8 | RHB Touch Hearts Projects: Encouraging Environmental Protection | N/A | 5,400 trees planted | N/A | Environment | Of the 43 RHB Touch Hearts projects implemented across ASEAN in FY2023, 22 were focused on environmental conservation. Through these initiatives, our RHB team planted a total of 5,446 trees across various locations in Malaysia, in collaboration with the Forest Research Institute Malaysia (FRIM). Notably, 4,000 of these trees were mangrove trees, underscoring the importance of mangrove ecosystems in coastal protection, carbon sequestration, and climate change mitigation. One of the key projects, titled "Bakau Tree Planting," involved the Group Technology team in Denai, Sabak Bernam, who planted over 530 mangrove trees along the Denai coast. This effort was aimed at protecting a nearby village from coastal flooding caused by climate change and is expected to benefit over 18,000 residents of Sungai Air Tawar, Sabak Bernam. Another significant initiative, "It Starts With Us," saw the Sarawak region team planting over 880 mangrove trees at the Samunsam Wildlife Sanctuary in Sematan. This project was designed to help preserve the rainforest and improve the habitat for wildlife. Overall, 50% of the RHB Touch Hearts projects in 2023 were dedicated to environmental protection, highlighting the Group's commitment to sustainability and ecological preservation. | |||
| 9 | RHB Touch Hearts Projects: Uplifting Communities | | RM0.74M | N/A | N/A | 18,000 beneficiaries | As part of RHB Touch Hearts 2023, RHBians across ASEAN also implemented social empowerment programs targeting vulnerable and marginalized communities, with a particular emphasis on empowering the younger generation through education. One such initiative was the "It Starts With GCM" project, where the Group Community Banking team in Kampung Rantau Panjang, Klang, Selangor, worked to improve the livelihood of more than 50 fishermen and the local environment. This was achieved by providing financial assistance for infrastructure development, enhancing fishing equipment and facilities, and conducting river clean-up activities. Another notable project, "Improving School Facilities," was undertaken by the Group Operations team at Sekolah Kebangsaan Bukit Raya in Hulu Langat. Recognizing the urgent need to enhance the learning environment and promote environmental sustainability, the team provided essential facilities such as solar-powered lighting, LED lights, and a portable outdoor solar station for school activities. These efforts aligned with the Group's commitment to achieving carbon-neutral operations while improving the school's infrastructure. In 2023, a total of RM741,500 worth of contributions was channeled through the RHB Touch Hearts program, making a significant impact on the communities served. | Decrease | |
| 10 | BEST-BYOB | N/A | Entrepreneurship programme | N/A | 28 participants | The B40 Empowerment Strategy - Be Your Own Boss (BEST-BYOB) is a comprehensive and competitive entrepreneurship programme designed to empower aspiring entrepreneurs. It includes structured business training, business matching opportunities, mentoring, and seed funding. Graduates of the BEST-BYOB programme continue to receive mentorship and business guidance during the first six months of their business operations to ensure a strong foundation for their ventures. In collaboration with Perbadanan Nasional Berhad (Pernas), the programme has made a significant impact. In 2023, a total of 28 participants benefited from the BEST-BYOB programme, successfully transitioning into pre-franchise entrepreneurs under the Business in Transformation (BIT) initiative by Pernas. These participants have begun generating initial incomes ranging from RM1,500 to RM30,000, demonstrating the effectiveness of the programme in fostering entrepreneurial success. | |||
| 11 | Projek Ternakan Ayam Kampung Kacuk | | RM0.60M | N/A | N/A | 10 asnaf families | The PTAKK programme aims to foster sustainable economic growth within asnaf and B40 communities in Kelantan by enabling participants to venture into poultry farming entrepreneurship. PTAKK comprises three distinct projects/initiatives designed to enhance the entire chicken farming ecosystem. These initiatives include the farming of ayam kampung kacuk, poultry feed processing, and breeding and hatching. Through the strategic implementation of these three initiatives, the programme is dedicated to establishing a holistic and integrated approach. Its aim is to unlock the full potential of chicken farming, fostering success and affluence within the targeted community. Participants of this programme will gain theoretical and practical knowledge relating to the chicken farming ecosystem, to sustain their livelihoods moving forward. The implementation of this project is supported by key partnerships, including Permodalan Nasional Berhad as the strategic partner and Universiti Malaysia Kelantan’s Institute of Research and Poverty Management (InsPeK) as the implementation partner. An allocated Zakat Fund of RM600,000 has been designated for this initiative. This project directly benefits 10 asnaf families while also providing valuable opportunities for over 200 members of the academic community at Universiti Malaysia Kelantan, including researchers, lecturers, and students | Increase | |
| 12 | B40 Asnaf Economic Development Project in Perlis | RM0.16M | N/A | N/A | 500 asnaf | RHB Islamic has partnered with Majlis Agama Islam dan Adat Istiadat Melayu Perlis (MAIPs) and the Akademi Transformasi Asnaf MAIPs (ATAM) to efficiently distribute zakat to the asnaf and B40 communities in Perlis. The partnership focuses on two key projects aimed at economic empowerment. The first project is a Tailoring Workshop at Taman Desa Asnaf Batu Bertangkup, Chuping. In collaboration with ATAM, RHB Islamic is working closely with Jabatan Kemajuan Masyarakat Perlis (KEMAS) and GIATMARA Malaysia to provide comprehensive training in tailoring apparel and bedding. This initiative is designed to enhance the business acumen of B40 participants, contributing to their economic empowerment. The second project, Bengkel Pengusahaan Karipap at Kampung Sentua, Utan Aji Kangar, equips participants with the essential skills to establish and manage a curry puff production business. RHB Islamic is the exclusive contributor, providing the necessary tools and equipment to support these impactful initiatives. In collaboration with ATAM under MAIPs and with an allocated zakat fund of RM165,729, these projects have provided 500 asnaf and B40 community members in Perlis with invaluable opportunities to acquire essential skill sets. This empowerment initiative enables them to generate sustainable income and serves as a pathway to enhance their overall quality of life. | |||
| 13 | B40 EDUCATION EMPOWERMENT PROGRAMME | RM0.26M | N/A | N/A | 2500 students | BEEP is an initiative that goes beyond traditional education support. Recognising the challenges faced by the B40 community, BEEP adopts a holistic approach to enhance educational access for children. The programme is crafted to address key obstacles, including financial constraints, limited resources, and restricted opportunities, to foster a more inclusive and equitable learning environment. Among the initiatives under this programme are: i. ii. Program Tuisyen Pintar; Program Selangkah ke Universiti; iii. Seminar Teknik Menjawab Soalan SPM; and iv. Skim Anak Angkat BEEP includes various comprehensive initiatives to improve educational opportunities for children in the B40 community. These initiatives are strategically crafted to address challenges such as financial constraints, limited resources, and restricted opportunities, all with the goal of cultivating a more inclusive and equitable learning environment. With the support of our strategic partner, Yayasan Pelajaran MARA (YPM), and an allocated Zakat Fund of RM264,300, the impact of these initiatives has been significant. Over 2,500 students, particularly those from underprivileged backgrounds within the B40 and asnaf communities, have benefited from the diverse programmes under the BEEP umbrella. This initiative has provided free guidance, academic exposure, and a conducive space for B40 students to explore various educational opportunities, thereby enhancing their academic prospects and future potential. | |||
| 14 | MYPAC | RM0.03M | N/A | N/A | 2 students | MYPAC RHB Islamic is collaborating with the Malaysia Professional Accountancy Centre (“MyPAC”) to extend financial assistance to asnaf students with good academic achievements. As part of this collaboration, RHB Islamic will provide financial support to the selected students from the B40 community who have completed their Sijil Pelajaran Malaysia (“SPM”) and aspire to pursue the Association of Chartered Certified Accountants (“ACCA”) qualification via a sponsorship programme. This initiative is designed to offer financial relief to post-SPM students by covering their study fees, accommodation, and allowances over a duration of four years. With the support of our strategic partner, The Malaysia Professional Accountancy Centre (MyPAC), and an allocated Zakat Fund totaling RM304,000 for the four-year period, the initiative is making a significant impact. To date, RM132,119 has been distributed, including RM30,967 in 2023. Through this programme, RHB Islamic is currently sponsoring two students, providing them with the necessary financial support to pursue their studies and achieve their academic goals. | |||
| 15 | ASNAF FUQARA’ IN PERLIS | RM0.03M | N/A | N/A | 140 individuals, 3 families | RHB Islamic has successfully disbursed zakat refunds to support 140 individual asnaf and three asnaf families through dedicated house visits. The recipients were selected from the list of asnaf provided by MAIPs, ensuring that the distribution directly reaches those in need. This initiative reflects our commitment to making a meaningful impact within the community, aligning with the principles of zakat and fostering a spirit of compassion and support for those facing financial challenges. With an allocated Zakat Fund of RM31,000, RHB Islamic has distributed zakat refunds to 140 individual asnaf and 3 asnaf families, significantly contributing to the upliftment of the targeted community in Perlis. Through targeted house visits and careful selection based on MAIPs’ asnaf list, this initiative has provided crucial financial assistance and strengthened our commitment to fostering compassion and support. By directly reaching those in need, we can make a tangible impact on the lives of these individuals and families, aligning our efforts with the core principles of zakat and reinforcing our dedication to community well-being | |||
| 16 | Green Mosque | RM0.15M | N/A | N/A | Masjid Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah | In line with the aspiration of the Ministry of Water and Environment (Kementerian Alam Sekitar dan Air (“KASA”)) that encourages programmes that spur green initiatives at places of worship, RHB Islamic has partnered with MGTC under the Masjid Hijau initiative. This initiative promotes sustainable practices by bringing green technologies to mosques, with the aim of reducing their carbon footprint from electricity and water usage by implementing green initiatives such as the installation of Solar Photovoltaic system (“Solar PV”), rain water harvesting, self-water treatment and also becoming the one-stop-centre to buy used cooking oil from the local community. With the support of our strategic partner, the Malaysian Green Technology and Climate Change Centre (MGTC), and an allocated Zakat Fund of RM150,000, this initiative is focused on promoting sustainable practices and environmental stewardship. The installation of solar PV at Masjid Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah in Bandar Tun Razak, Jengka, Pahang Darul Makmur, and Masjid Al Barakah in Kesang Luar, Jasin, Melaka, in collaboration with the Islamic religious councils of both states (Majlis Ugama Islam dan Adat Resam Melayu Pahang or “MUIP” and Majlis Agama Islam Melaka or “MAIM”), is set to bring significant positive changes. | |||
| 17 | Ocean Harmoni | N/A | Financial literacy session | N/A | 1,000 individuals | Delivered financial literacy sessions to close to 1,000 individuals | |||
| 18 | Ocean Harmoni | N/A | N/A | N/A | Environment | 38 certified divers, comprising 37 RHB staff from HQ, Eastern and Southern regions and a member of the RHB Islamic Board, participated in the 2nd UMT Bidong Summit in Kuala Terengganu, advocating for marine conservation. | |||
| 19 | Ocean Harmoni | N/A | Baby coral planting | N/A | Environment | Baby coral planting at Pulau Rawa as part of the UM Pulih project, in collaboration with Diveheart and UMMC | |||
| 20 | Ocean Harmoni | N/A | Awareness programme | N/A | Beneficiaries | Held the inaugural RHB Ocean Harmoni Awareness Week in August 2023 | |||
| 21 | RHB Clean-a-thon, Kampung Sungai Tiang in Bagan Datuk, Perak | N/A | 2,250 kg waste collected | N/A | 400 individuals | The event saw the participation of more than 400 individuals, including volunteers from RHB. A total of 2,250kg in waste was collected, including plastic, glass bottles, aluminium cans, paper materials and metal objects. A small token of RM100 was also given to the children in the community through their RHB Ocean Harmoni savings accounts. | |||
| 22 | RHB Clean-a-thon, Pantai Puteri, Melaka | N/A | 2,800 kg waste collected | N/A | 1,200 individuals | Held in support of the Operasi Bandaraya Ekosistem Bersih Aspirasi Semua initiative by Majlis Bandaraya Melaka Bersejarah, the event focused on cleaning the Malaccan public beach. The event saw an impressive turnout of over 1,200 individuals, including families, youths, government and non-governmental agencies, and community associations. Together, they successfully collected over 2,800 kg of waste along a 1.5 km stretch of Pantai Puteri. | |||
| 23 | RHB Singapore - Touch Hearts 2023 | N/A | Cleaning and painting the premises, along with a T-shirt upcycling workshop | N/A | Chen Su Lan Methodist Children’s Home | Staff volunteerism event in conjunction with Touch Hearts 2023 – Held at Chen Su Lan Methodist Children’s Home, the event saw staff cleaning and painting the premises, along with a T-shirt upcycling workshop aimed at instilling sustainability values among the residents and facilitating staff interaction. More than 50 RHB SG staff participated in the event. | |||
| 24 | Fundraising for Presbyterian Community Service | N/A | Fundraised worth SGD0.01M | N/A | Youths with mild intellectual disabilities | RHB Singapore raised a total of SGD17,121, which supported youths with mild intellectual disabilities in completing the Educator Aide Training Programme (“ECAT”), enabling them to become certified teaching assistants in preschools and make meaningful contributions to society. | |||
| 25 | Cybersecurity Awareness Programme for Elderl | N/A | Cybersecurity awareness programmes | N/A | 87 elderly | RHBSG conducted cybersecurity awareness programmes with Esther Active Aging Centre under Presbyterian Community Services and Tampines Park Residents’ Network. Sessions were conducted for 87 elderly individuals. | |||
| 26 | Bursary Support | N/A | Bursary | N/A | 6 youths | RHBSG provided bursary support for six underprivileged youths of Catholic Welfare Services to help with their educational needs. | |||
| 27 | Smile Cambodia’s Walk for Smile | USD0.5k | N/A | N/A | Beneficiaries | Contributed USD500 as part of Smile Cambodia’s Walk for Smile in Siem Reap. | |||
| 28 | RHB Cambodia | USD2.0k | N/A | N/A | 80 families | Raya Aidilfitri food donation amounting to USD2,000, which benefitted over 80 families | |||
| 29 | RHB Cambodia | USD0.8k | N/A | N/A | Beneficiaries | Contribution of USD800 to the Cambodian Red Cross & Red Crescent, to support their humanitarian efforts, on the 160th anniversary of the world body. | |||
| 30 | RHB Cambodia | N/A | 4 cows | N/A | 300 families | Raya Qurban contribution at Bantey Meanchey and Mondol Kiri provinces, where a total of four cows were donated, benefitting over 300 families. | |||
| 31 | RHB Cambodia - Touch Hearts | N/A | 20 PCs | N/A | 300 students | As part of Touch Hearts 2023, RHB Cambodia donated 20 PCs to Nikmah Al Islamiyah Institute in Phnom Penh, which has benefitted over 300 students. | |||
| 32 | RHB Cambodia - Touch Hearts | N/A | 12 trees | N/A | 12 trees | As part of the Touch Hearts 2023, 12 trees were also planted at the Institute. | |||
| 33 | RHB Humanitarian Fund | RM4.5k | N/A | N/A | Beneficiaries | The RHB Humanitarian Fund recorded a total contribution of RM5,332.81 from 106 RHB contributors. From this fund, a total of RM4,522.10 was disbursed to four recipients, leaving a remaining balance of RM810.71. |
Shows an increase monetarily or the number of beneficiaries from 2022 report.
Shows a decrease monetarily or the number of beneficiaries from 2022 report
1. The numerical value for total cash and in-kind giving was calculated based on individual monetary mentions in the Annual and Sustainability report.
2. The information above is derived from CIMB Group Holdings Berhad’s 2023 Annual and Sustainability Report. Email correspondence was made between 12 June – 30 July 2024 to seek further clarification, however, no reply was received.
This independent report is produced without sponsorship from any organisation. The objective of the Bursa Top 20 is to promote philanthropy and encourage charitable giving among for-profit organisations.
Focus Areas of RHB Bank Berhad
Beneficiaries of RHB Bank Berhad
In FY2023, RHB Bank Berhad contributed RM4.99 million as part of its community investment through cash contributions. This amount represents 0.18% of their cash-to-profit giving, which, while lower in percentage compared to the prior year’s 0.35%, exceeds the previous year’s total community investment of RM3.92 million. Nearly half of the initiatives were directed towards Education, accounting for 43.8%, followed by Sponsorship at 18.8%, and Environment at 15.6%. These initiatives include flagship programmes by RHB, such as the RHB Money Ma$ter Programme, RHB X-Cel Star Scholarship, RHB Art With Heart, and Ocean Harmoni. RHB’s initiatives primarily benefit the Community, followed by Youth and the Environment. Through the RHB Touch Hearts programme, with contributions totalling RM741,500, 18,000 beneficiaries have been positively impacted. However, the total employee volunteer hours were not specified in RHB Bank’s annual and sustainability report.
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