“Net impairment losses for 2QFY20, however, rose to RM1.74bil compared with RM452.3 million a year earlier as the group maintained a prudent stance and increased its forward looking assumption provisioning, given the heightened possibility of a drawn out pandemic which is expected to further affect businesses and individuals globally, ” it said.
KUALA LUMPUR: Malayan Banking Bhd
posted net profit of RM941.73mil in the second quarter ended June 30,2020 as it booked in the impact from the movement control restriction orders as well as the reductions in interest rates across most of its regional markets arising from the Covid-19 pandemic.
Maybank, Southeast Asia’s fourth largest bank by assets, said in a statement on Thursday its profit before tax (PBT) was 52.6% lower at RM1.26bil compared with RM2.65bil a year ago.
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