Maybank tops expectations on loans growth

Driven by growing loans and wealth management services Maybank beat expectations with a 25 percent rise in second-quarter net profit of RM1.44 billion.

The bank posted anet profit of RM1.15 billion in the same quarter a year ago.

That figure also topped the RM1.14 billion profit estimate of analysts tracked by Thomson Reuters I/B/E/S.

Revenue for the quarter climbed 20.2 per cent to RM6.88 billion from a year earlier, Maybank said in a statement.

Southeast Asia’s growing economies have helped Malaysian banks to post robust earnings in recent quarters, but slowing global growth from sliding euro zone economies remains a risk.

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