Maybank records net profit of RM2.04bil in 1Q

KUALA LUMPUR: Malayan Banking Bhd's (Maybank) net profit in the first quarter ended March 31, 2022, fell 14.52% to RM2.04bil compared with RM2.39bil in the previous corresponding quarter.

According to Maybank chairman Tan Sri Zamzamzairani Mohd Isa, the escalation of geo-political tensions, resultant market volatility as well as inflationary pressures somewhat dampened the positive impact of the resumption of economic activities and gradual reopening of international borders.