KUALA LUMPUR, Aug. 27 (Xinhua) -- Malaysia's largest bank Malayan Banking Berhad (Maybank) said Thursday that its net profit rose 2.37 percent year-on-year to 2.69 billion ringgit (670 million U.S. dollars), driven by disciplined cost management and significantly lower net impairment provisions.
The firm's quarterly revenue, however, dipped 5.86 percent year-on-year to 16.08 billion ringgit, the bank said in a bourse filing.
For the first half, the bank's net profit slipped 0.88 percent year-on-year to 5.17 billion ringgit. Its revenue for the period also fell 8.72 percent to 30.99 billion ringgit.
"We will continue to sharpen our focus on businesses where we can lead, strengthen our capabilities and capture opportunities across the region," its president and group chief executive officer Khairussaleh Ramli said in a statement.
He added that the bank's priority in the second half is to sustain this pace of execution, translate opportunities into quality earnings and remain agile in responding to changing customer needs and market conditions, keeping the bank firmly on track towards its FY2026 ambitions. (1 ringgit equals 0.25 U.S. dollars) ■