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BULLETIN: Maybank Announces First-Half Profits Rise 7.4% Feb 02
Standard & Poors, Feb 2002
Abstract
Malayan Banking Berhad (Maybank; BBB-/Stable/A-3) recently announced a 7.4% improvement in net profit for the first half-year to Dec. 31, 2001, compared with the corresponding period a year earlier. The announcement does not affect Standard & Poor's ratings on the bank. The results reflected higher fee income contributions from all three of its operations--commercial banking, merchant banking, and insurance--its improved loan recoveries, and its lower cost-to-income ratio. Standard & Poor's is looking for further signs of improvement in Malaysia's macroeconomic environment, in particular the restructuring of major corporate borrowers, and in Maybank's own performance before reassessing the ratings and outlook on the bank....
Companies mentioned in this report are: Malayan Banking Bhd.
Action: S&P Event
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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