<div class=newsTextDataWrapInner><p>This article first appeared in<em> The Edge Financial Daily</em>, on June 30, 2016.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>

<div class=newsTextDataWrapInner><p><strong>RHB Bank Bhd (-ve)</strong></p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>SHARES in RHB Bank Bhd (fundamental: 1.1/3, valuation: 1.65/3) triggered our momentum algorithm yesterday for the fourth time this year. The counter closed up 24 sen or 4.96% at RM5.08 yesterday, with some 2.74 million shares traded.</p></div>

<div class=newsTextDataWrapInner><p>RHB Bank assumed the listing status of RHB Capital Bhd on June 28, completing the restructuring of the financial services group. The restructuring was done to create efficiencies and synergies within the group, as well as to bring more cost savings.</p></div>

<div class=newsTextDataWrapInner><p>RHB managing director Datuk Khairussaleh Ramli was reported as saying that the group could potentially save RM160 million a year on completion of the restructuring, apart from a projected RM180 million savings per year from the massive career transition scheme the group conducted last year.</p></div>

<div class=newsTextDataWrapInner><p>Thus, going forward, RHB is potentially looking at total yearly savings of up to RM340 million.</p></div>

<div class=newsTextDataWrapInner><p>The stock is currently trading at 0.7 times its book value.</p></div>


This article first appeared in The Edge Financial Daily, on June 30, 2016.

 

RHB Bank Bhd (-ve)

SHARES in RHB Bank Bhd (fundamental: 1.1/3, valuation: 1.65/3) triggered our momentum algorithm yesterday for the fourth time this year. The...

Stock With Momentum: RHB Bank

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