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Singapore unit helps Maybank deliver solid half-time earnings

Published on Aug 28, 2014 4:32 PM

SINGAPORE - Maybank Singapore mirrored the performance of its parent for the first half year, delivering a pretax profit of $209.1 million, up 5.6 per cent.

At the group level, Maybank achieved a 5.7 per cent rise in pretax profit to RM4.45 billion ($1.75 billion) for the six months ended June 30, on continued growth in its international operations, particularly in Singapore, and consumer banking business.

Group net profit rose by 3.4 per cent to RM3.18 billion.

In Singapore, operating profit climbed by 21 per cent to S$228.5 million while net income rose a hefty 18.6 per cent.

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