“RHB Singapore plays a pivotal role in driving the Group’s regional ambitions,” says RHB Singapore CEO Goh Ken-Yi. “We are well-positioned to anchor our regional aspirations and accelerate the expansion of international business synergies under PROGRESS27.”
The group has identified three core objectives under PROGRESS27 — to be best in service, highly profitable and responsible. Eight transformation programmes are being rolled out to meet these goals. By 2027, RHB is targeting a return on equity of 12%, a cost-to-income ratio below 44.8%, and a gross impaired loan ratio under 1.3%.
At the centre of this strategy is GIB, which now oversees the group’s operations in Singapore, Cambodia, Thailand, Laos and Brunei. The division contributed 12% of group income in 2024, with profit before tax up 156.8% year-on-year and maintainable operating profit rising 30.4%.
Former RHB Singapore CEO Danny Quah now leads GIB, having been appointed to the role in April. He notes that Singapore generates 80% of GIB’s income and has been designated the group’s regional hub. “By aligning our strategies with local market dynamics and regulatory frameworks, we have significantly enhanced our ability to seize growth opportunities across the region,” Quah says.
See also: Creative Technology to sell Super X-Fi audio technology to employee for US$5 million
Alongside financial performance, RHB Singapore has been investing in customer engagement and brand presence. It recently completed a three-year transformation of its branch network with a digital-first approach, while maintaining its Peranakan heritage design. The bank retained the top Net Promoter Score among banks in Singapore and collected eight awards in 2025, including Mid-sized International Retail Bank of the Year and IPO Deal of the Year.
Sustainability also remains a priority. RHB Singapore’s headquarters was recently certified as an Eco Office by the Singapore Environment Council.
“PROGRESS27 builds upon our previous successes and positions us for continued growth and innovation,” says Dato’ Mohd Rashid Mohamad, group managing director of RHB Banking Group. “We are sharpening our execution to drive quality growth, scale sustainable finance and deliver superior value to our stakeholders. RHB Singapore’s exceptional progress exemplifies the kind of forward momentum we aim to replicate across our key markets.”
