Malaysia: Maybank posts 37pc drop in Q4 profit as impairments rise

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(The Malay Mail)

Malayan Banking Bhd (Maybank) reported today a 37 per cent lower fourth-quarter net profit as impairment losses climbed while net interest income and Islamic banking income fell.

Maybank reported a RM1.54 billion profit in the October-December period, compared with RM2.45 billion ringgit a year earlier, and undershooting the RM1.76 billion forecast from analysts polled by Refinitiv.

The company’s fourth-quarter revenue fell 5.8 per cent to RM12.24 billion, it said in a bourse filing.

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