Maybank posts RM1.85b profit in Q2, declares dividend of 28 sen per share

Maybank posts RM1.85b profit in Q2, declares dividend of 28 sen per share

Malayan Banking Bhd’s (Maybank) net profit eased to RM1.85 billion in the second quarter of 2022. — Picture by Firdaus Latif

Thursday, 25 Aug 2022 1:03 PM MYT

KUALA LUMPUR, Aug 25 — Malayan Banking Bhd’s (Maybank) net profit eased to RM1.85 billion in the second quarter of 2022 (Q2 2022) from RM1.96 billion a year earlier as it booked in net impairment charges of RM1.16 billion, compared with RM567.2 million last year.

In a statement today, the bank said overhead costs were prudently managed, growing at a moderate pace of 4.6 per cent year-on-year.

Revenue for the quarter ended June 30, 2022 also declined to RM11.2 billion versus RM11.33 billion previously.

Meanwhile, its board of directors has declared a single-tier first interim dividend of 28 sen per share, comprising a cash portion of 21 sen and an electable portion of seven sen per share under the Group’s Dividend Reinvestment Plan.

This translates into a total payout of RM3.35 billion to shareholders, constituting 85.9 per cent of its net profit for the half-year. — Bernama