Malayan Banking Bhd, the top bank in Malaysia, today said first half net profit rose 20.5 percent from the previous year due to better contributions from transactions and a lower loan-loss provision.

Net profit came in at RM2.0 billion, up from RM1.66 billion a year earlier.

Looking ahead, Maybank said it was confident of sustaining the performance in the year to June 2004, in view of the strengthening of the underlying domestic economic fundamentals and the more positive external environment.