BANKING - Maybank's Half Year Profit Soars To RM2.97 Billion, 28 Sen Dividend Announced

KUALA LUMPUR, Feb 21 (Bernama) -- Malayan Banking Bhd reported a 16 per cent rise in its group pre-tax profit of RM2.97 billion for the first six months financial period ended Dec 31, 2010 compared with RM2.56 billion in the previous corresponding period. (source)

Its President and Chief Executive Officer, Datuk Abdul Wahid Omar, said the improved performance was driven by higher revenues across almost all business segments of the group as well as significantly lower allowance for losses on loans.

Profit after tax and minority interest (PATAMI) for the second quarter ended Dec 31, 2010 rose 13.3 per cent to RM1.12 billion from RM993.5 million in the previous corresponding period.

The board declared an interim dividend of 28 sen per share, almost double the 11 sen declared in the previous corresponding half-year period ended Dec 31, 2009.

"The group's Indonesian operations continued to lead in loans growth with a robust 27.3 per cent annualised increase followed by Maybank Islamic at 23.5 per cent, Singapore operations 17.8 per cent, other international operations 20.9 per cent and Community Financial Services 10.1 per cent," Abdul Wahid said during a media briefing on the group's financial results.

Abdul Wahid said the results reflected the transformation efforts from the reorganisation of the group.

During the period reviewed, the group registered higher growth in SME loans, undertook the expansion of its Islamic banking business in Indonesia through the establishment of Maybank Syariah Indonesia as well as entered into an agreement to acquire Kim Eng Holdings in a bid to expand its regional investment banking capabilities.

-- BERNAMA

Source : http://www.bernama.com/bernama/v5/newsindex.php?id=565242 - Feb 21, 2011