Maybank's Pre-tax Profit For 2012 Surges To RM7.894 Billion

10 Rabiulakhir 1434

KUALA LUMPUR, Feb 21 , 2013 - Malayan Banking Bhd (Maybank) registered a higher pre-tax profit of RM7.894 billion for its financial year ended Dec 31, 2012 vis-a-vis RM6.875 billion in 2011.

Revenue for last year also surged to RM27.532 billion from RM23.741 billion in 2011.

Profit after tax for financial year 2012 stood at RM5.917 billion from RM5.121 billion in the previous year.

For the fourth quarter last year, Maybank posted a pre-tax profit of RM1.949 billion, on the back of RM7.027 billion in revenue.

Maybank Chairman Tan Sri Megat Zaharuddin Megat Mohd Nor said the group's results were boosted by sustained growth across most business sectors, complemented by strong contributions from its global operations, spanning 20 countries.

"Total operating income rose 12 per cent despite the challenging global economy as the group leveraged on its strong domestic positioning, diverse capabilities and regional network to grow its franchise and explore new market segments," he told a media briefing today.

Megat Zaharuddin said revenue growth was led by a 14 per cent increase in net fee-based income and 10.8 per cent increase in net fund-based income.

"Revenue grew ahead of overhead expenses, the result of continuous efforts to improve efficiency and implementation of a vigorous cost management exercise.

"These helped offset the pressure on net interest margins during the year," he said.

Maybank's group loans growth remained in double-digit territory, with a healthy 12.2 per cent rise, in addition to loans and debt Securities registering a higher growth of 12.9 per cent.

Deposits expanded strongly across the three home markets, reinforcing the group's regional franchise, with higher growth momentum recorded in Indonesia.

Gross group deposits rose 10.3 per cent to RM347.2 billion, led by a 22.3 per cent rise in Indonesia, followed by Singapore and Malaysia with a 12.7 per cent and 8.5 per cent rise, respectively.

Megat Zaharuddin said Maybank's board of directors had proposed a final dividend in respect of the 2012 financial year of 18 sen, less 25 per cent taxation and a 15 sen single-tier dividend on 8,440,046,735 ordinary shares of RM1 each for the shareholders' approval.

For the previous fiscal year ended Dec 31, 2011, Maybank proposed a final dividend of 36 sen per share, less 25 per cent taxation.


More information: BERNAMA