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Malaysia's Maybank Q2 profit up 43 pct on lower loan-loss provisions
August 30, 2017 / 5:06 AM / 3 months ago

Malaysia's Maybank Q2 profit up 43 pct on lower loan-loss provisions

KUALA LUMPUR, Aug 30 (Reuters) - Malaysia’s largest bank by assets, Malayan Banking Bhd (Maybank), on Wednesday reported a 43 percent rise in net profit for the three months through June, helped by lower loan-loss provisions.

Profit reached 1.66 billion ringgit ($388.94 million) in the second quarter from 1.16 billion ringgit in the same period a year prior. The result compared with the 1.69 billion ringgit average of two analyst estimates, Thomson Reuters data showed.

Net interest income rose about 10 percent to 3.04 billion ringgit.

The bank also said it expects 2017 earnings to be “satisfactory given the ongoing challenging global environment”. ($1 = 4.2680 ringgit) (Reporting by Liz Lee; Editing by Christopher Cushing)

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