|
|
 |
|
Viewing report
|
|
|
|
BULLETIN: Malayan Banking Berhad Announces a 53% Rise in Third Quarter Net Profits May 02
Standard & Poors, May 2002
Abstract
Malayan Banking Berhad (Maybank; BBB-/Positive/A-3) announced 53% growth in its group aftertax profits to Malaysian ringgit 1.33 billion (US$350 million) for the nine months ended March 31, 2002, up from RM869 million in the previous corresponding period. The announcement does not affect Standard & Poor's ratings on the bank. The stronger results were mostly attributed to higher noninterest income from its stockbroking, insurance, and merchant banking activities as well as lower loan-loss provisioning charges for the nine-month period. While the signs of an economic recovery are getting stronger and the benefits of corporate debt resolutions yet to flow fully through the banking system, Standard & Poor's positive outlook on Maybank reflects its expectations that the bank, relative to its domestic...
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.
|
|
|
|
