Maybank Q2 profit up 2.4% on lower impairment, higher non-interest income
It declares a single-tier first interim dividend of RM0.31 a share for the financial year ending Dec 31, up from RM0.30 a...
Maybank reported a 2.4% increase in net profit to RM2.69 billion (US$668 million) for the second quarter, ending June 30, compared to RM2.63 billion in the same period last year. This resulted in a first-half net profit of RM5.17 billion, down slightly from RM5.22 billion in the previous year. The improvement was attributed to lower net impairment provisions on loans and higher non-interest income, despite market volatility affecting wealth and treasury-related fees.
Basic earnings per share for the quarter rose to RM0.2224, up from RM0.2175 a year earlier. The board declared a single-tier first interim dividend of RM0.31 per share for the financial year ending December 31, a 2.4% increase from RM0.30 per share. This represents a dividend payout ratio of 72.5%, with RM0.05 per share available for reinvestment under Maybank's dividend reinvestment plan and the remaining RM0.26 per share to be distributed in cash.
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