KUALA LUMPUR, Aug 25 — Malayan Banking Bhd’s (Maybank) net profit eased to RM1.85 billion in the second quarter of 2022 (Q2 2022) from RM1.96 billion a year earlier as it booked in net impairment charges of RM1.16 billion, compared with RM567.2 million last year.

In a statement today, the bank said overhead costs were prudently managed, growing at a moderate pace of 4.6 per cent year-on-year.

Revenue for the quarter ended June 30, 2022 also declined to RM11.2 billion versus RM11.33 billion previously.

Meanwhile, its board of directors has declared a single-tier first interim dividend of 28 sen per share, comprising a cash portion of 21 sen and an electable portion of seven sen per share under the Group’s Dividend Reinvestment Plan.

This translates into a total payout of RM3.35 billion to shareholders, constituting 85.9 per cent of its net profit for the half-year. — Bernama