Malaysia’s biggest lender Maybank posts 11% drop in Q4 net profit

The Straits Times

Malaysia’s largest bank by assets, Malayan Banking Bhd (Maybank), posted on Wednesday an 11 percent decline in fourth-quarter net profit, despite a slight rise in net interest income.

Excluding one-off proceeds from the sale of securities in 2016 the profit rose by 22.4 percent, a statement released by the bank showed.

Net attributable profit for October-December was 2.13 billion ringgit ($542.95 million), compared to 2.4 billion ringgit in the corresponding period a year earlier.

The result compared with the 2.3 billion ringgit average of estimates from two analysts, according to Thomson Reuters.