DBAss Vs Maybank - Which Do U Trust?

[makapaaa]

<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR>Nov 11, 2008
</TR><!-- headline one : start --><TR>Maybank Q1 profits fall 22% <!--10 min-->
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Maybank, officially known as Malayan Banking, reported its net profit for the first three months to September 2008 fell to 572.2 million ringgit (S$239.7 million) from 735.4 million ringgit a year ago. -- ST PHOTO: MARK CHEONG
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KUALA LUMPUR - MALAYSIA'S top lender Maybank said on Tuesday its first quarter profits fell 22 per cent from the same period last year due to higher loan loss provisions and losses in an associated company.
Maybank, officially known as Malayan Banking, reported its net profit for the first three months to September 2008 fell to 572.2 million ringgit (S$239.7 million) from 735.4 million ringgit a year ago.
Maybank chairman Mohamed Basir Ahmad said in a statement that the group was fundamentally sound despite the poorer results.
'Despite the lower profit recorded for the quarter, the group remains strong in terms of its total asset quality which improved steadily, clearly reflecting its strong fundamentals and resilience in all economic cycles,' he said.
The net non-performing loan ratio strengthened to 1.84 per cent from 1.92 per cent in June 2008 while loan loss coverage improved to 100.2 percent in September.
Net interest income was 3.6 per cent lower at 1.27 billion ringgit while non-interest income fell to 478.7 million ringgit from 610.2 million ringgit a year earlier.
Loan loss provision was 192.2 million ringgit compared to 108.1 million ringgit a year ago mainly due to the lower specific allowance written back.
Maybank said its pre-tax profit for the period was impacted by impairment losses in an associated company which amounted to 242 million ringgit.
The bank said it expected net profit for its financial year ending June 2009 to be lower given the deteriorating global financial and economic situation.
It said the operating environment for the domestic banking sector would be more challenging, against this backdrop, with slower loans growth and increasing risk of greater non-performing loans. 'We are adopting a conservative outlook for the financial year ahead, focusing on strengthening our core areas of business to drive growth and building on our regional footprint to set the foundation for future growth,' said Maybank president and CEO Abdul Wahid Omar in the statement. -- AFP

 

[masgnoeL]

Maybank, of course.

 

[Bigfuck]

Maybank. Revenues are not from taxing citizens. Simple. If you minus DBS tax revenues, it is a harmkarchan bank.

 

[angry_one]

I put more than 1/2 my savings in Maybank. And the rest in UOB. I will never put a single cent with Dee Bee Ass. Further, Maybank loans actually charge LOWER interest than all sinkee banks!

 

[denzuko1]

Just read that DBS has set new guidelines to Sales....unfortunately to investors and not the product of their franchise.

Doesn't they know that the trouble started when the product they franchised failed and not a result of their investors? Does it mean now that they will only take in investors who can afford to lose money while they do not have to take responsibility when the products fail?

I say that DBS is aiming at the wrong target.

 

[johnny333]

Been using a Maybank credit card for years because got no service charge. Back then Spore banks were charging service fees for their cards.

They have a satisfied customer

 

[madmansg]

maybank got backing of petronas oil field. DBS got backing of low morale SAF empty shell "first priority of war is to shoot the PC" army.