Q2 net profit at Maybank up 0.6% to RM1.58 billion

Net profit for the six months to June 30 inched up 3.4 per cent to RM3.28 billion.
Net profit for the six months to June 30 inched up 3.4 per cent to RM3.28 billion. ST PHOTO: KUA CHEE SIONG

SINGAPORE - Net profit at Maybank, Malaysia's largest bank by assets, inched up 0.6 per cent to RM1.58 billion (S$521 million) for the three months to June 30, while net operating income rose 9.1 per cent.

Second-quarter fund-based income grew 13 per cent to RM3.54 billion, and net fee-based income was unchanged at RM1.34 billion as markets activities continued to remain weak, noted the bank.

Net profit for the six months to June 30 inched up 3.4 per cent to RM3.28 billion, bolstered by net operating income rising 10.8 per cent to RM9.88 billion.

Maybank said this was "on the back of steady growth in net operating income across all business pillars".

Loans recorded a healthy growth, rising 11.1 per cent on an annualised basis, owing to asset growth across the countries Maybank operates in, and was also boosted by stronger momentum in the second quarter.

It declared a single-tier interim dividend of 24 sen per share, which will come in a 4 sen cash portion and a 20 sen electable portion under the dividend reinvestment plan.

rachaelb@sph.com.sg