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Nikkei Markets

Malaysia's top banks flag tough times ahead

Malayan Banking, CIMB Group under pressure as Southeast Asia slows

Maybank stick to its aim of 11% return-on-equity for 2018.    © Reuters

KUALA LUMPUR (Nikkei Markets) -- Malaysia's top two banks Thursday flagged challenging business conditions as growth crimps in most of their key markets squeezing net interest income and other operating revenue.

Malayan Banking (Maybank), the country's biggest lender in terms of asset, said third quarter net profit fell 3.5% in July-Sept. to 1.96 billion ringgit ($466.88 million) compared with the same quarter last year. At CIMB Group Holdings, the second largest bank by assets, quarterly net profit rose 4.4% year-on-year to 1.18 billion ringgit.

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