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Maybank net profit rises 16 7% y-o-y in 1Q as loans pick up pace

KUALA LUMPUR (May 27): Malayan Banking Bhd (Maybank) saw its net profit for the first quarter ended March 31, 2021 (1QFY21) rise 16.71% year-on-year (y-o-y) to RM2.39 billion, from RM2.05 billion in 1QFY20. In a statement today, the largest bank in the country said the improved results were due to loans picking up pace on the improving economic outlook, while overhead expenses and impairments declined. Maybank s return on equity stood at 11.7% in 1QFY21 compared with 10.6% a year ago, while earnings per share rose 15% to 21 sen from 18.2 sen previously. Given the continued impact of the Covid-19 pandemic , the group has said it is setting its headline KPI of return on equity of about 9% for FY21.

Maybank reschedules AGM due to technical issue

KUALA LUMPUR (April 15): Malayan Banking Bhd (Maybank) said its 61st annual general meeting (AGM), which was supposed to be held today, has been rescheduled due to a technical issue faced by remote participation and voting facility provider Tricor Investor & Issuing House Services Sdn Bhd. In a statement to Bursa Malaysia today, Maybank chairman Tan Sri Zamzamzairani Mohd Isa said the bank would like to convey its deepest apologies to all shareholders for the inconvenience caused and that Maybank will notify them of the new meeting date in due course.  “We appreciate that our shareholders had taken time to try to log in today to follow the proceedings of the meeting and wish to assure all of them that we will be reaching out to them to update them of the next meeting arrangements.”

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