Maybank's profit up, but remains cautious amid challenging environment


  • Banking
  • Friday, 24 Feb 2017

Abdul Farid: ‘There are signs of stability in commodity prices but it will take some time before these are translated into cashflow.’

KUALA LUMPUR: Malayan Banking Bhd (Maybank), backed by a 43% rise in net profit for its fourth quarter ended Dec 31, 2016, remains cautious on the outlook of the sector amid the challenging environment.

The 43% year-on-year gain to RM2.36bil was helped by a one-off gain from the sale of securities. However, even after stripping out the extraordinary gain, the country’s biggest banking group registered a net profit growth of 15.9%.

Get 30% off with our ads free Premium Plan!

Monthly Plan

RM13.90/month
RM9.73 only

Billed as RM9.73 for the 1st month then RM13.90 thereafters.

Annual Plan

RM12.33/month
RM8.63/month

Billed as RM103.60 for the 1st year then RM148 thereafters.

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Business News

Greatech Technology's net profit improves to RM154.99mil in FY24
Sime Darby Auto Connexion invests RM16.6mil in 3S centre in Penang
Taiwan's ASE opens 5th semiconductor plant in Penang
EXIM Bank appoints Nurbayu as president and CEO
Eco World buys remaining 40% in Paragon Pinnacle
Able Global CEO and chairman released from MACC remand
MyEG optimistic about long-term growth, plans AI and blockchain expansion globally
Sunzen disposes of loss-making animal health subsidiaries for RM17.3mil
Glostrext posts record net profit and revenue in 9MFY25, surpassing FY24 totals
Deleum wins contract from PETRONAS Carigali

Others Also Read