KUALA LUMPUR (Aug 21):  RCE Capital Bhd posted a 4% increase in net profit to RM24.12 million in the first quarter ended June 30 on the back of higher net interest income and interest income from deposits with licensed financial institutions. Earnings per share rose to 7.03 sen, from 6.81 sen previously.

In a filing with Bursa Malaysia, RCE Capital reported revenue grew 5.9% to RM66.94 million.

Management expects the group to be profitable in FY20. “As we constantly adapt and position ourselves to comply with the current regulatory and market requirements, and adjust to the changes in the landscape of the consumer financing industry, responsible lending and quality financing remain the group's priority,” it said.

RCE Capital closed unchanged at RM1.60 today for a market capitalisation of RM558.13 million.