Malaysian banks post solid quarters, and the provisioning line is the one to read
Headline profits were in line. Loan loss provisions fell more than expected, which flatters the comparison.
The four largest Malaysian banks reported quarterly results this week. Net profits were broadly in line with consensus and net interest margins held up better than feared.
The line worth reading is provisions. Loan loss provisioning fell 22 percent year on year across the group, and that decline accounts for a substantial share of the profit growth. Provisions are a judgement, not a measurement.
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