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CGS-CIMB Research retains Add for Public Bank
KUALA LUMPUR: CGS-CIMB Equities Research retained its Add call on Public Bank as it believes the bank is the most defensive among the local banks against the risks of a spike in loan loss provisions (LLP) in 2H20.
Public Bank net profit at RM1bil in second quarter
KUALA LUMPUR: Public Bank Bhd reported a net profit of RM1bil in the second quarter, down by 24.8% from RM1.33bil a year ago due to a one-off net modification loss of RM498.4mil related to Covid-19 relief measures.
Outcome of second quarter earnings season expected
THE second quarter earnings season holds no major surprises for corporate Malaysia. With the economy grouded to a halt due to the movement control order, most businesses were already anticipated to be badly hit operationally and financially. However, glove makers are clearly an exception.
RHB Bank 2Q net profit at RM400m on modification loss
KUALA LUMPUR: RHB Bank Bhd's net profit fell by 34.9% to RM400.77mil in the second quarter ended June 30, 2020 mainly due to the one-off net modification loss of RM392.4mil.
Hong Leong Bank posts net profit of RM2.49bil in FY20
KUALA LUMPUR: Hong Leong Bank Bhd posted a net profit of RM2.49bil in the financial year ended June 30, 2020, a 6.7% decline over the previous financial year, owing to headwinds experienced in the second half of the year.
Public Bank 2Q net profit at RM1b due to modification loss
KUALA LUMPUR: Public Bank Bhd reported net profit of RM1bil in the second quarter, down by 24.8% from RM1.33bil a year ago due to a mainly due to the one-off day one net modification loss related to Covid-19 relief measures of RM498.4mil.
Canada's current account deficit narrows in Q2
OTTAWA, Aug. 27 (Xinhua) -- Canada's current account deficit narrowed by 4.6 billion Canadian dollars (about 3.5 billion U.S. dollars) in the second quarter to 8.6 billion Canadian dollars, Statistics Canada said Thursday.
Alliance Bank starts FY21 on strong note
PETALING JAYA: Alliance Bank Malaysia Bhd began its financial year 2021 (FY21) on a strong note after its earnings surged by 36% year-on-year (y-o-y) despite the loan moratorium for borrowers.
