Maybank Quarterly Profit Rises on Lower Provisions, Better Cost Management

By Ying Xian Wong

Malayan Banking's second-quarter net profit climbed 2.4%, helped by lower impairment and better cost management, though growth was slightly slower than market expectations.

Malaysia's largest lender by market capitalization said Thursday that net profit increased to 2.69 billion ringgit, equivalent to $668.1 million, from 2.63 billion ringgit a year earlier, thanks to disciplined cost management and lower impairment provisions. Analysts had estimated 2.72 billion ringgit, according to a Visible Alpha-compiled consensus.

Quarterly net interest income declined 2.4% to 3.10 billion ringgit, while net fund-based income increased 1.9% to 5.03 billion ringgit.

Net interest margin expanded 10 basis points to 2.10% in the quarter, and net impairment provisions roughly halved to 230 million ringgit, the bank said.

Operating expenses fell 2.5% to 3.69 billion ringgit despite higher establishment costs tied to technology initiatives, bringing the cost-to-income ratio down to 49.1% from 49.3%.

For the six months ended June, net profit edged 0.8% lower to 5.17 billion ringgit.

Write to Ying Xian Wong at yingxian.wong@wsj.com

(END) Dow Jones Newswires

August 27, 2026 02:29 ET (06:29 GMT)