MBSB swings back to profit on writebacks

KUALA LUMPUR (Bernama) -- Malaysia Building Society Bhd (MBSB) recorded a net profit of RM403.41 million in the second quarter ended June 30, 2021 (Q2 2021), from a net loss of RM12.51 million in the same period a year ago, contributed mainly by writebacks on impairment.

Revenue for the quarter, however, eased to RM664.94 million from RM886.35 million a year earlier mostly due to lower gain from sales of financial investments in Q2 2021.