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Higher gross loans, lower cost of funds boost MBSB's 1Q earnings

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Higher gross loans, lower cost of funds boost MBSB's 1Q earnings

Higher gross loans, lower cost of funds boost MBSB's 1Q earnings

KUALA LUMPUR (May 24): Malaysia Building Society Bhd's (MBSB) net profit in the first quarter ended March 31, 2017 (1QFY17) nearly tripled to RM101.32 million from RM34.84 million a year ago, thanks to higher gross loans and lower cost of funds.

The non-bank financial institution's quarterly revenue came in nearly flat in 1QFY17, 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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