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BULLETIN: Malayan Banking Berhad Announces Flat First Quarter Net Profit Nov 02
Standard & Poors, Nov 2002
Abstract
Malayan Banking Berhad (Maybank; BBB/Stable/A-3) posted a marginal rise in net profit to Malaysian ringgit 372.6 million (US$98.1 million) for the first quarter ended Sept. 30, 2002 from RM371.9 million in the previous year. The announcement does not affect Standard & Poor's current counterparty credit ratings on the bank. The bank's flat first quarter result was largely due to lower net interest income, although offset by a lower loan-loss provisioning requirements. During this period, Maybank's loans grew at an annualized 5.8% and were mainly supported by an increase of loans to the small and midsize enterprises and the consumer segments, which counterbalanced the decline in corporate loans. Maybank's capitalization has continued to remain strong, with a risk-weighted capital ratio of...
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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