Maybank records lower net profit of RM1.95b in 3Q

Maybank chairman, Tan Sri Zamzamzairani Mohd Isa said given the improvement in the 3Q results, Maybank has decided to continue with its practice to pay an interim dividend to shareholders, albeit at a lower rate compared to the past owing to the impact of the Covid-19 pandemic.

KUALA LUMPUR: Malayan Banking Bhd's net profit fell by 2.3% to RM1.95bil in the third quarter ended Sept 30, 2020, down by 2.3% from RM1.99bil a year ago due to the continued impact from the Covid-19 pandemic.

Maybank, Southeast Asia’s fourth-largest bank by assets, said on Friday while the impact from the pandemic affected its net operating income, this was partly offset by reduced overhead expenses and a decline in impairments.