KUALA LUMPUR, Aug 28 — Malayan Banking Bhd’s (Maybank) net profit increased by 8.2 per cent to RM2.53 billion for the second quarter ended June 30, 2024 (Q2 FY2024) from RM2.34 billion in Q2 2023.

In a filing with Bursa Malaysia, the bank said its revenue rose to RM17.17 billion from RM16.13 billion previously.

Maybank said net operating income expanded slightly to RM7.34 billion from RM7.31 billion in Q2 2023, led by higher net fund-based income which rose by 2.2 per cent to RM4.93 billion.

However, non-interest income decreased to RM2.41 billion from RM2.48 billion previously.

For the first half of 2024 (1H 2024), Maybank’s net profit improved by 9.0 per cent year-on-year to RM5.02 billion, while revenue increased to RM35.52 billion.

The bank also declared a first interim full cash dividend of 29 sen per share, which translated into a dividend payout ratio of 69.7 per cent, equivalent to a RM3.5 billion payout. — Bernama