In the constructor you can specify the desired format of the summary item, so try this:
this.radGridView1.SummaryRowsBottom.Add(new GridViewSummaryRowItem(new GridViewSummaryItem[]{
new GridViewSummaryItem("DecimalColumn", "{0:R #.##,##}", GridAggregateFunction.Sum)}));
Two other things I noticed:
- You are adding the row to SummaryRowsBottom and the you are setting its PinPosition to Top. Instead, you can use the SummaryRowsTops.
- I noticed you are creating a new instance of a Font in the formatting event. Bear in mind that this event gets triggered quite often and creating a Font is not a cheap operation, so I would move this as a global variable.