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Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat) , the country’s only cooperative bank announce that they will considering lifting a five-year freeze on accepting new members as part of plans to raise RM500 million in extra capital.
However, the priority will be given to the existing members to increase their investment in Bank Rakyat. Bank Rakyat will seek shareholders approval for the capital increase at its annual general meeting in April 2010. For those who eagerly waiting for this opportunity, please remember this date.
Existing members enjoy a very good dividend every year. For the past 10 years, Bank Rakyat consistently giving at least 15% dividend every year.
For the financial end of 31st December 2009, Bank Rakyat declare 15% dividend to be paid to its 794,199 individual members and 1,401 cooperatives. This will involve a total payout of RM299 million. Dividend payment will be distributed starting 22nd February 2010.
In that year as well, Bank Rakyat net profit has breached the RM1 billion mark for the first time since its inception 55 years ago. Group gross income rose 18.3 per cent to RM3.78 billion from RM3.2 billion in 2008. Its net income after profit distribution to depositors grew 28.4 per cent to RM2.61 billion.
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{ 20 comments… read them below or add one }
15%? That’s a lot.
Yes, its 15%. They even pay 20% dividend in 2008.
I am interested with the possible investment at BANK RAKYAT, please furnish me with latest report on the bank portfolios.
Thank you.
You have to ask the bank.
I understand that only bumiputras can become members of Bank Rakyat. Can you confirm whether this is true?
loww, in their website this is the requirement,
•Aged 18 and above
•Not a bankrupt
•No court action was taken against the applicants
•Never been dispelled from being a member under the Co-operatives Act 1993
How do am I to be come a member and what are the requirements to join the the high dividen returns. And how to start for the biginning the minimum amount of cash require, how do the system works.
New membership is not open yet. They plan to open it sometimes this month. So stay tuned.
Minimum is RM500 & refer to my comment above for eligibility.
when this plan RE-Open,Pls let me know.Thanks
I heard that they will not open up because it was disapprove during the last AGM. Too bad.
please give me an idea, how can i join bank rakyat islamic investment as a very first time personal investor and not yet open any account with the bank. tq
Sorry to say that currently the membership is closed.
ok, sience the Bank rakyat close the membership. Can the existing member of Bank Rakyat increase their invesment?
Sorry to say that option is also not available.
Are they gonna open it anytime soon?
To bad that the management & existing shareholder decide not to reopen. Alternatively, look for Bank Persatuan Shares in this blog.
Appreciate it if u could inform me if there is any good news on reopening BRakyat’s investment to existing members. Been waiting for a long time for this opportunity. B. Persatuan is another good option but do u know of any other than these 2 for good solid investments. TQ in advance
Hi Zann279,
Yes I will update in this when there is good news on reopening and other good investment opportunity. Subscribe to this blog if you don’t want to miss out the update.
The best bank so far which care about client and staff, win win concept that prosper life for the industries. Other bank should adapt and learn from them.
I called and was informed only for bumiputra. Not 1 malaysia yet