Maybank plans to add stake in BII

Malayan Banking Bhd. has plans to add stake in PT Bank International Indonesia Tbk from 43 percent.

Maybank was reportes net income jumped more than fivefold to 3.82 billion ringgit in the 12 months ended June 30, up from 691.9 million ringgit a year earlier. It reported a 912.5 million-ringgit profit for its fiscal fourth- quarter, compared with a 1.2 billion ringgit loss a year ago.

Loans growth exceeded expectations with a double-digit rise of 10.3 percent.

Full-year earnings were boosted by higher net interest income, mainly because of contributions from PT Bank Internasional Indonesia, which it bought in September 2008.

Maybank posted its first quarterly loss since 2001 in its fiscal fourth quarter last year after writing down the value of its overseas investments and setting aside more provisions for
bad debts.

This year, fourth-quarter net interest income rose 15 percent to 1.8 billion ringgit, its statement said. Maybank's board plans to recommend a final dividend of 40 sen per share.