RHB Banking Group

What RHB Banking Group does

RHB Banking Group is Malaysia's fourth largest fully-integrated financial services group, established in 1997 and headquartered in Kuala Lumpur, with RM358 billion in total assets and RM34 billion in shareholder's equity as of FY2025. The group operates both conventional and Islamic banking through a nationwide branch network, supported by digital channels including RHB Online Banking, the RHB Mobile Banking App, RHB Reflex (a cash management and trade platform), and RHB Reflex Premium Plus (an ecosystem integrating accounting, HR/payroll, POS, and education software for SMEs). It serves five core segments: Personal/Individual Banking, SME and Business Banking, Corporate Banking, Premier/Wealth Banking, and Islamic Banking, plus a digital-first segment via the Boost Bank joint venture with Axiata launched in 2024.

The business generates revenue from net interest income across home, personal, auto, SME, trade, and supply chain financing, complemented by fee and commission income from accounts, payments, trade services, foreign exchange, and wealth products. A significant structural shift is underway via the exclusive 20-year bancassurance and bancatakaful agreements with Tokio Marine Life Insurance Malaysia and Takaful Malaysia (effective August 2025), which provide up to approximately RM1.6 billion (~$380 million) in Total Access Fees over the contract period. The PROGRESS27 strategy explicitly targets double-digit fee income growth and a doubling of investment and bancassurance AUM within three years, signaling a deliberate move toward non-interest income. Recent product launches include RHB Wealth Advance and Takaful mySmart Income Enhanced (developed with the new bancassurance partners), RHB Education Financing-i (Shariah-compliant), and the RHB MY1 Full Flexi Overseas Property Home Loan for UK and Australian property purchases. RHB also piloted Mastercard's Agent Pay agentic commerce platform in March 2026 alongside CIMB and Maybank. FY2025 group financials report RM8.8 billion in total income and RM3.4 billion in net profit at a 47.3% cost-to-income ratio.

Name

RHB Banking Group

Legal name

RHB Bank Berhad

Website

https://rhbgroup.com

Company type

Public

Founded year

1997

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

RHB Banking Group is Malaysia's fourth largest fully-integrated financial services group (RM358 billion in total assets), offering conventional and Islamic banking, wealth management, insurance distribution, and digital banking through branches, mobile and online channels, and the Boost Bank joint venture with Axiata.

Ownership category

akta.pro rank

Product category

Integrated Commercial and Retail Banking

NAICS

Commercial Banking (522110), Depository Credit Intermediation (5221), Savings Institutions and Other Depository Credit Intermediation (52218), Offices of Bank Holding Companies (551111)

SIC

National Commercial Banks (6021)

akta.pro primary industry

General SME & Middle-Market Commercial Banking (FSABABAA)

akta.pro secondary industries

Islamic SME & Commercial Banking (FSABAGAB), Islamic Retail Banking (FSABAGAA), Islamic Private Banking & Wealth (FSABAGAD)

Keywords

• Retail banking services
• Commercial banking
• Islamic banking
• Wealth management
• Digital banking

Headquarters

HQ city

Kuala Lumpur

HQ country

Malaysia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Net Interest Income: Interest income generated from lending activities including home financing, personal financing, auto financing, commercial property financing, SME loans, trade financing, and credit cards. RHB is Malaysia's fourth largest fully-integrated financial services group with RM358 billion in total assets.
2. Bancassurance and Bancatakaful Fees: RHB receives a Total Access Fee of up to approximately $380 million (RM1.6 billion) from Tokio Marine Life Insurance Malaysia and Takaful Malaysia under exclusive 20-year bancassurance and bancatakaful agreements effective August 2025, distributing life insurance, family takaful, and general takaful products through RHB's branch network.
3. Fee and Commission Income: Fees from account services, transaction processing (IBG, DuitNow, Instant Transfer), trade finance services (letters of credit, banker acceptances, trust receipts), foreign exchange, and wealth management products including unit trusts, structured products, and securities trading.
4. Digital Banking (Boost Bank JV): Revenue from Boost Bank digital banking products including loans, deposits, and insurance distribution. Boost Bank reported RM310 million loan book with 38.1% QoQ revenue growth in FY2025, targeting profitability by 2028.

Pricing tiers

Go-to-market motion4 records

Distribution channels9 records

Marketing channels7 records

Core offering

RHB Banking Group operates as Malaysia's fourth largest fully-integrated financial services group, providing conventional and Shariah-compliant banking across personal, SME, corporate, premier wealth, and Islamic segments. Its product set spans deposits, credit and debit cards, home/personal/auto financing, SME loans, trade and supply chain finance, unit trusts, structured products, precious metals, life insurance, general insurance, family takaful, foreign exchange, cash management, and investment banking. Distribution is delivered through a nationwide branch network, online and mobile banking, the RHB Reflex and RHB Reflex Premium Plus digital platforms, and the Boost Bank digital banking joint venture with Axiata.

Product overview

RHB Banking Group operates as Malaysia's fourth largest fully integrated financial services group, offering a comprehensive platform-plus-modules architecture. The core platform is RHB Reflex, an online cash management solution combining banking, trade, and payment services. RHB Reflex Premium Plus extends this with integrated third-party accounting (Financio, Xero, SQL Account), HR/payroll (Talenox, Kakitangan), POS (Storehub, ARMS), and education (iKEY) software. The group provides personal banking (deposits, cards, financing, investments, insurance), business banking (SME loans, trade financing, merchant services), Islamic banking, and Premier banking services. Recent launches include RHB Wealth Advance (conventional protection/investment) and Takaful mySmart Income Enhanced (Shariah-compliant takaful) both developed with major insurance partners. Boost Bank is a digital banking joint venture with Axiata. The product portfolio spans deposits, credit/debit cards, home and personal financing, auto financing, SME lending, trade finance, supply chain finance, unit trusts, structured investments, precious metals, insurance (life, general, takaful), and digital banking services.

Differentiator

Problem solved

Functional benefit

Brands

• RHB Islamic: Islamic banking products and services under Shariah-compliant channels
• RHB Premier
• Boost Bank
• RHB Invest
• RHB Reflex
• RHB Joy@Work
• Merge by RHB

Products and services

• Basic Savings Account Personal savings account with no bankcard annual fee, unlimited ATM and OTC transactions, and optional RM8.00 bankcard annual fee variant, for individual retail customers.
• Current Account Business current account with monthly RM5.00 service charge if daily average balance falls below RM1,000; My1 Account variant carries RM15 annual fee and RM5,000 minimum balance, for SME and business customers.
• RHB Multi Currency Account Interest-bearing account supporting 33 foreign currencies and 2 precious metals in a single account, available with the Multi Currency Visa Debit Card for overseas transactions without currency conversion fees, for individuals and businesses.
• RHB Multi Currency Visa Debit Card Debit card enabling transactions in up to 33 foreign currencies on top of Ringgit Malaysia with no currency conversion fee on overseas retail spend, for individual customers.
• RHB Shell Visa Credit Card Co-branded Shell credit card offering RM260,000 luxury travel packages and RM500 cashback through applicable campaigns, with annual fee RM195, for individual customers.
• RHB Corporate Card Business expense management card offering a streamlined, safe, and efficient way to pay for business expenses with rewards, for corporate and SME customers.
• RHB PayLater Buy now, pay later solution allowing purchases to be split into easy installments with zero hassle, for individual customers.
• RHB Home Financing Home financing products including commercial property financing that are competitive, flexible, and convenient for residential property purchases, for individual customers.
• RHB Personal Financing Personal loans for various needs including weddings, family additions, renovations, and other personal requirements, for individual customers.
• RHB Auto Financing Vehicle financing with competitive rates, fast processing, and flexible terms for car purchases, for individual customers.
• RHB BizPower SME Business Loan SME business loan covering temporary fund deficiencies, bill payments, and overall cash flow management, for SME customers.
• RHB MY1 Full Flexi Overseas Property Home Loan Ringgit-denominated cross-border home loan enabling Malaysian residents to purchase residential property in the UK and Australia while mitigating foreign exchange risk, for affluent Malaysian property investors.
• RHB Unit Trust Investment product providing access to a wide range of unit trust funds for wealth accumulation, for individual investors.
• RHB Structured Product Investment Customised financial solutions meeting individual risk appetites including structured investments, for individual investors.
• RHB Precious Metals Investment Investment in 33 foreign currencies and precious metals within a single account, for individual investors.
• RHB Retail Bond Fixed income investment providing a predictable income stream for portfolio diversification, for individual investors.
• RHB Investment Financing Financing solutions to expand trading potential with tailor-made financing for investments, for individual investors.
• RHB Wealth Leverage Smart financing to maximise investment growth through leveraged wealth strategies, for affluent individual investors.
• RHB Invest Online investment platform providing trading access to local and global markets, for individual investors.
• RHB TradeSmart Investment and trading platform for accessing products in local and global markets, for individual investors.
• RHB ASNB Financing Financing for Amanah Saham Nasional Berhad units with high margin of financing, attractive rates, and flexible tenures, for individual investors.
• Life Insurance Products Life protection products including plans for life-starters, young parents, women, business owners, retirement planning, and legacy planning, distributed through RHB Bank branches in partnership with Tokio Marine Life Insurance Malaysia.
• General Insurance Products Insurance coverage including personal accident, medical, property, motor, motor add-on, travel, and miscellaneous insurance, distributed through RHB Bank branches.
• RHB Wealth Advance Conventional protection and investment plan developed with Tokio Marine Life Insurance Malaysia, with premium payment terms of 3, 5, or 8 years and coverage extending to age 128, for individual customers.
• Takaful mySmart Income Enhanced Shariah-compliant family takaful plan developed with Syarikat Takaful Malaysia Keluarga offering guaranteed yearly income and coverage up to 20 years, for individual customers.
• RHB Domestic Trade Financing Trade financing solutions including Domestic Bills Purchased, Letter of Credit negotiation, Banker's Acceptance, Trust Receipt, Flexitab-Invoice Financing, and Promissory Note Financing for local business transactions, for corporate and SME customers.
• RHB Financial Supply Chain End-to-end supply chain financial solutions including Distributor Financing, Supplier Financing, Receivable Financing, and SME Receivable Financing Program with eco-friendly ESG Trade Financing options, for corporate customers.
• RHB Reflex Online cash management platform combining cash management, trade, and payment solutions including fund transfers, bulk payments, payroll, DuitNow QR, cheque management, and API integration with third-party software, for SME and corporate customers; winner of Best Cash Management Bank in Malaysia 2019 from The Asian Banker.
• RHB Reflex Premium Plus All-in-one business management ecosystem at RM50/month integrating accounting (Financio, SQL Account, Xero), HR/payroll (Talenox, Kakitangan), POS (Storehub, ARMS), and education software (iKEY Edutech) with RHB Reflex banking for automated reconciliation, payroll disbursement, and payment authorization, for SME customers.
• RHB Merchant Terminal Compact and mobile card terminal enabling business transactions anywhere, integrated with RHB Reflex and supporting MPOS for on-the-go credit card payments with collections linked directly to business current accounts, for SME and merchant customers.
• RHB Joy@Work Salary crediting account solution with employee banking privileges including attractive rates, savings, and lifestyle discounts, also available as business banking solution bundled with RHB Reflex Premium Plus, for HR and corporate employer customers.
• RHB Premier Banking Premium banking services for high-net-worth individuals with exclusive benefits and personalized services, for affluent and HNW customers.
• Islamic Banking Services Shariah-compliant banking products including Islamic deposits, cards, financing, imports/exports, investment, treasury, and Islamic social finance, for Shariah-conscious customers.
• RHB Education Financing-i Shariah-compliant financing scheme for Malaysian education costs, for students and families.
• RHB Liability Insurance Business insurance providing indemnity against sums employers may become legally liable to pay third parties due to accidents arising from work, for SME and corporate customers.
• RHB Miscellaneous Insurance Business insurance covering SMI Supreme Insurance, Fidelity Guarantee, Burglary, Glass, and Money Insurance for various business risks, for SME and corporate customers.
• My Safe Deposit Box Plus Insurance Personal miscellaneous insurance protecting safe deposit box contents against burglary, robbery, explosion, flood, and riots/strikes/malicious damage across 5 plan tiers from RM42/year to RM168/year, for individual customers.
• Boost Bank Malaysia's first fully digital bank jointly operated by Axiata's Boost and RHB Banking Group, offering digital deposits, loans, and three low-cost insurance products (travel, personal accident, daily commute priced RM15-RM25 annually) through Great Eastern General Insurance Malaysia, for tech-savvy retail customers.
• RHB Family Banking Family-focused banking solution enabling management of family finances in one place with rewards for saving together, for families and households.

Quantifiable outcome

• Customer satisfaction scores exceeding 85% across all touchpoints through Qualtrics CX platform
• +3 more outcomes

Named customers2 records

Segments8 records

Ideal customer profiles7 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

AI capability5 records

Feature6 records

Partnerships

Ten partnerships are on record, tiered minor and core.

• OSK PropertyminorStrategic or Co-development Partner · 8 March 2026Strategic collaboration for cross-border property financing, debuting with the Melbourne Square development in Southbank, Melbourne, Australia. RHB offers the RHB MY1 Full Flexi Overseas Property Home Loan (ringgit-denominated) for Malaysian residents purchasing property in the UK and Australia, with OSK Property as the property partner.
• MastercardcoreTechnology or Integration · 4 March 2026Mastercard Agent Pay pilot completed on 4 March 2026 in Malaysia, partnering with CIMB, Maybank, and RHB Banking Group to demonstrate AI-powered agentic commerce using tokenized credentials and payment passkeys. An AI agent successfully booked a ride from Kuala Lumpur International Airport to KL Sentral. Commercial deployment expected in phases. RHB is positioned as a frontrunner in agentic commerce in Malaysia.
• Tokio Marine Life Insurance MalaysiacoreStrategic or Co-development Partner · 1 August 2025Exclusive 20-year bancassurance agreement effective 1 August 2025, under which RHB distributes Tokio Marine Life's life insurance products through its branch network across Malaysia. RHB receives a Total Access Fee of up to approximately $380 million (RM1.6 billion) tied to projected business volume over the contract period. This partnership supports RHB's PROGRESS27 strategy to grow non-interest income.
• Syarikat Takaful Malaysia KeluargacoreStrategic or Co-development Partner · 1 August 2025Exclusive 20-year bancatakaful agreement effective 1 August 2025, under which RHB distributes Takaful Malaysia's family takaful and general takaful products through its Islamic banking channels. Part of the RM1.6 billion Total Access Fee arrangement alongside Tokio Marine Life partnership. Expands access to Shariah-compliant insurance and takaful offerings in Malaysia.
• QualtricscoreTechnology or Integration · 26 May 2025Multi-year partnership to scale RHB's customer experience capabilities through the Qualtrics Voice of Customer ecosystem deployed across 17 customer journeys. Results: over 4,000 dissatisfied customers re-engaged, customer satisfaction scores exceeding 85% across all touchpoints. RHB positioned as a frontrunner in experience-led growth among Malaysia's top banks under its Progress27 corporate strategy.
• Boost (Axiata Group Berhad's Fintech Arm)coreStrategic or Co-development PartnerBoost Bank is Malaysia's first fully digital bank, jointly operated by Boost (Axiata's fintech arm) and RHB Banking Group. Boost Bank launched in 2024, targeting profitability by 2028 with strong momentum: RM310 million loan book (+32.7% QoQ) and 38.1% QoQ revenue growth in FY2025. The JV combines Axiata's digital ecosystem expertise with RHB's banking license and infrastructure. External investor search delayed to Q2 2026.
• Great Eastern General Insurance MalaysiaminorStrategic or Co-development PartnerInsurance product partnership through Boost Bank JV, offering travel insurance, personal accident coverage, and daily commute insurance priced between RM15 and RM25 annually. Represents Boost Bank's initial insurance product lineup under the Great Eastern partnership.
• AEON BiG KepongminorGTM or Marketing PartnerCommunity partnership in RHB's Projek Baju Raya CSR initiative, where AEON BiG Kepong organized festive shopping trips allowing underserved families to purchase essential items. RHB volunteers accompanied families to AEON stores.
• Inland Revenue Board of Malaysia (Lembaga Hasil Dalam Negeri Malaysia)minorGTM or Marketing PartnerGovernment partner supporting RHB's Projek Baju Raya festive CSR initiative, contributing to community outreach alongside RHB employees and other partners.
• Securities Commission MalaysiaminorGTM or Marketing PartnerRegulatory partner supporting RHB's Projek Baju Raya festive CSR initiative as part of broader corporate social responsibility efforts.

Scale indicators17 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• CIMB Group Holdings Berhad: Malaysia's second-largest bank with regional ASEAN footprint. Direct peer across retail, corporate, Islamic, and investment banking; co-participant with RHB in Mastercard Agent Pay pilot and fellow major Malaysian integrated financial group.
• Bank Muamalat Malaysia Berhad: Malaysian Islamic banking peer operating exclusively in Shariah-compliant products. Comparable to RHB's Islamic banking arm across retail, SME, and takaful distribution, though smaller in scale.
• Public Bank Berhad: Malaysia's third-largest bank with a strong retail and SME franchise. Direct peer competing with RHB for Malaysian retail deposits, mortgages, and SME financing, with similar conventional banking focus but smaller Islamic banking arm.
• Bank Islam Malaysia Berhad: Malaysia's largest standalone Islamic bank. Direct peer to RHB Islamic, competing for the same Shariah-compliant retail, SME, and corporate banking customers in Malaysia.
• Hong Leong Bank Berhad: Malaysian bank focused on retail and SME banking with established digital capabilities. Comparable to RHB's SME and retail banking segments, with similar product breadth in cards, loans, and deposits.
• Malayan Banking Berhad (Maybank): Malaysia's largest bank and largest integrated financial services group. Direct peer across retail, SME, corporate, Islamic, and wealth banking; co-participant with RHB in Mastercard Agent Pay pilot. Most direct comparable by business model and Malaysian market focus.
• AmBank Holdings Berhad: Malaysian integrated financial services group with retail, SME, corporate, and Islamic banking. Direct peer competing in similar Malaysian segments with comparable Islamic banking ambitions through AmBank Islamic.

Broad incumbents

• Standard Chartered Bank Malaysia: Subsidiary of Standard Chartered PLC focused on wholesale, transaction banking, and priority banking in Malaysia. Comparable for corporate banking and trade finance offerings targeting Malaysian corporates with international needs.
• HSBC Bank Malaysia Berhad: Global bank with Malaysian operations focused on corporate, commercial, and premier wealth banking. Comparable to RHB Premier for cross-border property financing and wealth management, and competes in Malaysian corporate banking.

Emerging players

• Axiata Group Berhad: Malaysian telecommunications conglomerate and parent of Boost (RHB's Boost Bank JV partner). Strategic peer through the digital bank partnership, providing telecom-distributed financial services across Malaysia and ASEAN.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/rhb-banking-group
• Xx.com/rhbgroup

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about RHB Banking Group