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Malaysia's Maybank Q2 profit up 43% on lower loan-loss provisions
[KUALA LUMPUR] Malaysia's largest bank by assets, Malayan Banking Bhd (Maybank), on Wednesday reported a 43 per cent rise in net profit for the three months through June, helped by lower loan-loss provisions.
Profit reached RM1.66 billion (S$526.6 million) in the second quarter from RM1.16 billion in the same period a year prior. The result compared with the RM1.69 billion average of two analyst estimates, Thomson Reuters data showed.
Net interest income rose about 10 per cent to RM3.04 billion.
The bank also said it expects 2017 earnings to be"satisfactory given the ongoing challenging global environment".