KUALA LUMPUR, May 24 (Xinhua) -- Malaysia's largest banking group Malayan Banking Berhad (Maybank) has reported higher profit in the first quarter ended March 31, underpinned by higher revenue.
The firm said in a bourse filing on Friday that its net profit increased by 9.8 percent year on year to 2.49 billion ringgit (528 million U.S. dollars) as its revenue rose 20.81 percent to 18.35 billion ringgit.
In a separate statement, the firm said the commendable results were driven by strong growth in core fees as well as an increase in treasury and market gains that supported the group's net operating income. (1 ringgit equals 0.21 U.S. dollar) ■
