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UPDATE 1-Maybank Q3 net profit up 12.9 pct, beats expectations
November 9, 2012 / 9:41 AM / 5 years ago

UPDATE 1-Maybank Q3 net profit up 12.9 pct, beats expectations

KUALA LUMPUR, Nov 9 (Reuters) - Malaysia’s largest lender, Malayan Banking Bhd (Maybank), beat expectations with a 12.9 percent rise in third-quarter net profit, helped by a stronger performance at its international banking business.

Maybank posted on Friday a net profit of 1.5 billion ringgit in the quarter ended Sept. 30 compared with 1.33 billion ringgit in the same quarter a year ago.

That exceeded the 1.3 billion ringgit profit estimate of analysts tracked by Thomson Reuters I/B/E/S.

“Performance was boosted by strong growth in revenue from International Banking, particularly Bank Internasional Indonesia (BII), as well as Islamic Banking, Investment Banking and Corporate Banking,” Maybank said in a statement.

Revenue for the quarter climbed 13.5 percent to 6.97 billion ringgit from a year earlier, Maybank said in a statement.

Maybank shares earlier closed unchanged at 9.02 ringgit per share, while the benchmark stock index also closed unchanged. (Reporting by Al-Zaquan Amer Hamzah; editing by Stuart Grudgings)

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