KUALA LUMPUR, Aug 30 — Maybank, South-east Asia’s fourth-largest bank by assets, saw its second-quarter net profit surge 18.12 per cent to RM1.96 billion on the back of higher operating income, lower impairments as well as reduced overheads as a result of better cost management.
For the corresponding quarter ended June 30, 2017, net profit was RM1.66 billion. Revenue jumped 5.37 per cent to RM11.5 billion from RM10.92 billion before, it said in a statement today.
“Maybank’s performance clearly demonstrates its strength and resilience in facing the evolving environment and the shift in the banking landscape,” said Chairman Datuk Mohaiyani Shamsudin.
She said the group was confident that its strong market position and solid fundamentals would enable it to steer itself through the challenges as it seeked to continue delivering value to stakeholders.
For the first half of the year, net profit increased 13.9 per cent to RM3.83 billion from RM3.36 billion previously, while revenue widened 3.71 per cent to RM23.02 billion from RM22.20 billion before. — Bernama
