To date, RHB Bank is regarded as the main competitors in Malaysian finance and banking niche. Wanting to grow the horizon within SEA, they’ve laid their foundation in countries including Brunei, Hong Kong, Indonesia, Laos, and Singapore. In making sure that the organization is scalable, RHB introduced an assortment of banking facilities to institutions and individuals for both personal and commercial needs.
Services Offered by RHB Bank
The most staple form of services a Bank offers has long been the cash deposit account and self-banking facilities. RHB attracts customers to create savings in addition to current account by offering above average interest rate to be enjoyed by members. For maximal ease to withdraw and deposit money into the account, customers could easily locate and use the nearby CDM and ATM machines deployed in branches together to other locations easily.
RHB Bank witnesses that more people make purchases online compared to using cash nowadays. Based on the data collected, it is found that more online users prefer to purchase by using credit cards. For that reason, the Bank causes it to become a priority to serve the customers better by offering credit card facilities with marvelous rewards. Knowledgeable customers who compare credit cards thoroughly know that RHB’s interest rate is among the lowest.
Feeling the need to narrow the gap between supply and demand, RHB Bank goes the extra mile and also has begun offering credit card facilities with a wide range of benefits compared to the other banks, that include cashback reward for card holders when they purchase more using the credit card.
Despite that, RHB Bank realizes the simple fact that offering credit cards and savings accounts are certainly not enough. Presently, acquiring assets which include cars and property requires many people to acquire a decent loan scheme. Thus, RHB has reformulated their loan structure to be able to offer the lowest interest rate possible for lots of types of loans. Plus, insurance services, unit trust, and financial investment can also be made.
For corporations and entrepreneurs, corporate banking facilities will also be available. They’ll be able to take a business loan or maybe even connect with RHB for corporate & investment banking. Aiming to ensure that their products and services are the very best, RHB has offered online cash management and asset management services.
Small-medium enterprises can really benefit from the range of services offered by RHB Bank, especially when it involves taking loans to help increase cash flow and further scale the business. RHB furthermore has begun innovating by providing retail solutions to those who need it, particularly e-commerce players.
Expansion of Scope Towards Islamic Banking
Nevertheless, RHB Bank has not ever overlooked the need for Islamic banking facilities. In Malaysia, Syariah-compliant services and products are highly demanded. Therefore, products or services such as wealth management, unit trust, Islamic treasury, and corporate banking are particularly formulated to make certain that all transactions adhere to the Syariah requirement.
A significant 24% annual brand value growth appears to have been seen by the Bank in 2016, which places them as amongst the 5 top domestic banking players. Seeing the future market growth potential, RHB Bank has equipped themselves with a more rigorous and effective tactics to further grow their value and market share in the near future.