KUALA LUMPUR – Malayan Banking Bhd (Maybank) closed its financial year ended December 31, 2020 (FY20) with a lower net profit of RM6.48 billion compared with RM8.20 billion in the preceding year, booking in significantly higher net impairment losses owing to the continued impact from the Covid-19 pandemic.
Its revenue slipped to RM51.03 billion from RM52.86 billion previously, while basic earnings per share fell to 57.66 sen from 73.45 sen.
Meanwhile, for the fourth quarter of FY20, the bank’s net profit declined to RM1.54 billion from RM2.45 billion a year earlier while revenue was down at RM12.24 billion versus RM13.0 billion previously. – Bernama, February 25, 2021
