Bank Rakyat announced their highest dividend payout in 2022 at an impressive 15%. The previous year's payout was also quite high at 14%. If you had RM1,000 worth of Bank Rakyat stocks, you will get RM150. The returns are even higher than EPF, ASB and Tabung Haji.
Bank Rakyat's products are all Islamic Banking products. Bank Rakyat is into Personal Financing, Auto Financing and Home Financing but I'm suspecting they are making big margins in Personal Financing. During Covid, Personal Financing applicants were on the rise everywhere not just Bank Rakyat. Personal Financing loans typically have very high profit rates. For Bank Rakyat, its Personal Financing (Personal Financing-i Public Sector) are offered to government servants and the loan payments are directly deducted from salary, so the risk of non payment is non existent.
Bank Rakyat shares can be purchased by it's only for Bumiputera. However, even for Bumiputera's, it's not easy to get the shares, it's quite highly sought after as it has been giving excess of 10% dividends.
There's 2 ways to buy Bank Rakyat shares for Bumiputera, 1 way is to wait for Bank Rakyat to announce sales of new units and the 2nd way is to buy the shares from existing shareholder who wants to exit. Existing shareholders who wants to exit can be found on forums and chat groups.
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