Maybank’s Q2 profit more than doubles to RM1.96 bil - Printable Version +- Ipoh Community Forums (https://forums.ipoh.com.my) +-- Forum: News and Current Affairs (https://forums.ipoh.com.my/forum-11.html) +--- Forum: Local News (https://forums.ipoh.com.my/forum-12.html) +---- Forum: Business. Economy and Investment (https://forums.ipoh.com.my/forum-60.html) +---- Thread: Maybank’s Q2 profit more than doubles to RM1.96 bil (/thread-2850.html)

Maybank’s Q2 profit more than doubles to RM1.96 bil - superadmin - 08-26-2021 KUALA LUMPUR – Malayan Banking Bhd (Maybank) posted a net profit of RM1.96 billion for the second quarter ended June 30, 2021, more than double the RM941.73 million recorded in the same period last year. In a statement today, Southeast Asia’s fourth-largest bank by assets said its earnings improved as loans continued to grow, net interest margin expanded from a more cost-effective funding mix, and impairments came in lower from a year earlier. However, revenue declined to RM11.34 billion versus RM11.79 billion previously. The group recorded a steady growth in net operating income to RM6.17 billion for the quarter, up 9.3% on-year, while its net impairment losses fell to RM567.2 million from RM1.74 billion in the same period last year. For the cumulative six-month period ended June 30, 2021, the group saw its net profit surging to RM4.35 billion from RM2.99 billion previously, while revenue slipped to RM23.56 billion from RM25.03 billion. - More -