November 29, 2018 / 5:06 AM / 18 days ago

Malaysia's Maybank reports 3.4 pct drop in Q3 profit

KUALA LUMPUR, Nov 29 (Reuters) - Malayan Banking Bhd , Malaysia’s largest bank by assets, on Thursday posted a 3.4 percent drop in third-quarter profit due to a net loss in investment income, lower fee income and higher allowances for impairment losses.

Net profit for the period ended September was 1.96 billion ringgit ($468.12 million), versus 2.03 billion ringgit it made last year. That lagged an 1.98 billion ringgit average estimate made by two analysts surveyed by Refinitiv.

Revenue climbed 4 percent to 12.1 billion ringgit. ($1 = 4.1870 ringgit) (Reporting by Liz Lee; Editing by Himani Sarkar)

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