Maybank beats the pundits
(Malaysia) - Malaysia's biggest lender Malayan Banking Bhd (Maybank) has reported a 7.4 percent jump in half-year earnings with an improvement in recovery of loan losses and lowered cost ratios.
The bank, Malaysia's second largest listed company, saw net profit rise to 753.17 million ringgit (US$198.2 million) for the six months ending December 2001 from 701.34 million a year earlier, although loans growth fell by 7.3 percent during the June to December period.
The group's NPLs now stand at 8.4 percent of total loans compared with 7.7 percent as at the end June.
The group's NPLs now stand at 8.4 percent of total loans compared with 7.7 percent as at the end June.
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