Malaysia's largest bank, Maybank, net profit up 6% to RM1.67bil

Farid: ‘We are closely monitoring regional developments, particularly the level of business activity post-implementation of the goods and services tax.’

PETALING JAYA: The country’s largest bank by assets, Malayan Banking Bhd (Maybank), says it is expecting a “challenging year” even as it reported a 6.2% year-on-year net profit increase in its first quarter ended March 31.

For the quarter under review, the lender made a net profit of RM1.7bil or 18.27 sen per share compared with RM1.6bil or 18.09 sen per share for the same period last year.