MBSB earnings soar in Q3

  • Business
  • Wednesday, 23 Oct 2013

PETALING JAYA: Malaysia Building Society Bhd (MBSB) closed its third quarter for the period ending Sept 30 with a pre-tax profit of RM681mil, a 66% increase from RM410mil in the preceding year’s corresponding quarter.

Revenue surged 38% to RM1.8bil from RM1.3bil last year.

On a quarterly basis, however, the group achieved a pre-tax profit of RM196mil, declining 21% from the preceding quarter.

In a filing with Bursa Malaysia, the financial provider attributed the decline to higher collective impairment allowance following an increase in collective allowance made for personal financing and mortgage portfolios.

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