Malaysia Building Society Bhd (MBSB) posted lower earnings of RM63mil in the second quarter ended June 30, 2016 from a year ago due to higher allowance for impairment losses on loans, advances and financing.
MBSB said on Monday its earnings were down 26.3% from the RM85.55mil a year ago. However, its revenue rose 6.1% to RM812.51mil from RM765.78mil. Its earnings per share were 2.21 sen compared with 3.41 sen.
The allowance for impairment losses was higher at RM179.88mil from RM134.25mil a year ago.
“The group profit before tax for the Q2, 2016 of RM74.72mil increased by RM35.619mil as compared to the preceding quarter profit before tax of RM39.10mil. The increase was mainly due to lower allowances for impairment losses on loans, advances and financing,” it explained.
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MBSB said on Monday its earnings were down 26.3% from the RM85.55mil a year ago. However, its revenue rose 6.1% to RM812.51mil from RM765.78mil. Its earnings per share were 2.21 sen compared with 3.41 sen.
The allowance for impairment losses was higher at RM179.88mil from RM134.25mil a year ago.
“The group profit before tax for the Q2, 2016 of RM74.72mil increased by RM35.619mil as compared to the preceding quarter profit before tax of RM39.10mil. The increase was mainly due to lower allowances for impairment losses on loans, advances and financing,” it explained.
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