MBSB up 2.36% as 1Q earnings nearly triple

KUALA LUMPUR (May 25): Malaysia Building Society Bhd shares rose 2.36% at mid-morning today after its net profit in the first quarter ended March 31 (1QFY17) nearly tripled to RM101.32 million from RM34.84 million a year ago, thanks to higher gross loans and lower cost of funds.

At 9.57am, MBSB rose 3 sen to RM1.30 with 4.32 million shares done.

Revenue saw a marginal 0.17% drop to RM811.2 million, from RM812.63 million a year ago, due mainly to lower financing income from retail segment and lower income from investments in liquid assets. —

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