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Maybank 4Q Earnings Rose on Investment Income, Earned Insurance Premiums

   By Chester Tay 
 

Malayan Banking Bhd.'s fourth-quarter net profit grew 5.3%, driven by higher investment income and net earned insurance premiums.

The lender, Malaysia's largest by assets, said net profit rose to 2.45 billion ringgit ($579.8 million) from the same quarter a year earlier.

Net interest income declined 0.8% to MYR3.08 billion.

The bank declared a dividend of MYR0.39 a share.

Full-year 2019 net profit grew 1.1% to MYR8.20 billion, while net interest income increased 0.2% to MYR12.10 billion.

Due to low global growth, the banking group said it will maintain cost discipline and engage with customers on asset-quality management.

 

Write to Chester Tay at chester.tay@wsj.com

 

(END) Dow Jones Newswires

February 27, 2020 00:40 ET (05:40 GMT)

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