Maybank posts net profit of RM6.48b in FY20, div 38.5 sen

Despite the challenging year, Maybank recorded a stable net operating income, up by 0.1% at RM24.76 bil from a year earlier.

KUALA LUMPUR: Malayan Banking Bhd posted net profit of RM6.48bil in the financial year ended Dec 31,2020 compared with RM8.20bil a year ago due to higher impairment losses due to the continued impact from the Covid-19 pandemic.

In a statement issued on Thursday, Southeast Asia’s fourth largest bank by assets said this was partly offset by higher net operating income and reduced overhead expenses.