By Chester Tay

RHB Bank Bhd.'s third-quarter net profit inched up 1.0% despite a weaker net interest margin.

Net profit rose to 622.2 million ringgit ($152.9 million) after accounting for profits from the group's stockbroking business in Singapore, which was sold in the quarter, the bank said on Monday.

Net interest income fell 1.1% to MYR905.6 million.

For the first nine months of 2020, RHB's net profit dropped 15% on year to MYR1.58 billion, while revenue grew 0.5% to MYR2.69 billion.

RHB said it is in a good position to navigate through the challenges posed by the pandemic as the group had sufficient liquidity and robust capital levels.

The group said its current loan loss coverage remains comfortable and it has ample room to absorb any potential increase in credit losses.

Write to Chester Tay at chester.tay@wsj.com

(END) Dow Jones Newswires

11-30-20 0128ET