Maybank posts 1Q net profit of RM2.39b as loans pick up

Maybank, South East Asia’s fourth largest bank by assets, said overhead expenses and impairments declined.

KUALA LUMPUR: Malayan Banking Bhd recorded a net profit of RM2.39bil for the first quarter ended March 31,2021 (1QFY21) an increase of 16.7% from RM2.05bil last year as loans picked up on an improving economy.

Maybank, South East Asia’s fourth largest bank by assets, said overhead expenses and impairments declined. Profit before tax (PBT) for 1Q21 was RM3.17bil compared with RM2.80bil a year ago.