Malaysia's Maybank posts best quarterly profit in 2 years, but flags risks

KUALA LUMPUR: Malaysia's Malayan Banking Bhd on Tuesday beat expectations with a 9.1 per cent rise in quarterly net profit, its highest profit in two years, as Islamic banking income soared and net interest income grew.

"Many of our clients institutional investors ... would like to know a bit of clarity on the medium to long term economic policies - where do we want to go, which sectors are we focused on, what are we going to do about creating new employment, what are we going to do about creating a better environment for new investments," Group president and CEO Abdul Farid Alias said at the bank's results briefing.

Maybank recorded a net profit of 2.33 billion ringgit for October-December compared to 2.13 billion ringgit in the same period a year earlier. The result beat the 2.14 billion ringgit average of three analyst estimates compiled by Refinitiv.

Source: Financial Digest (financialdigest.net)

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