Highlights for 9M2012:
· PATAMI up 18.2% to another record RM4.3 billion
· Net revenue increased by 14.8% to RM12.37 billion
· Return on Equity of 16.3%, ahead of 15.6% target
· Strong growth across most business sectors including international operations
· Group Islamic Banking PBT surpasses full-year RM1 billion target in 9 months
· Asset quality continues to strengthen; Net Impaired Loan Ratio improves further to 1.22%
· Strong Risk Weighted Capital Adequacy Ratio of 16.71%
· Earnings per share up 14.3% to 55.4 sen
Maybank today reported profit after tax and minority interest (PATAMI) of RM4.29 billion for the nine months ended 30 September 2012, up 18.2% from the RM3.63 billion recorded in the nine months to September 2011. Group profit before tax was up 15.6% to RM5.95 billion.
The Group saw steady growth across almost all business sectors despite the softening global economy, reflecting efforts to grow profitably and responsibly while ensuring sound asset quality. Net revenue rose 14.8% to RM12.37 billion on the back of a 14.9% growth in fund-based income and 14.8% in fee-based income. Performance was boosted by strong growth in revenue from International Banking, particularly Bank Internasional Indonesia (BII), as well as Islamic Banking, Investment Banking and Corporate Banking.
Group loans maintained double-digit growth of 10.4%, led by Community Financial Services, Corporate Banking, Investment Banking and BII. Although this was behind the original full year target of 16.2%, it was in line with the general slowing down recorded by the industry. For the Malaysian operations, loans growth was 12.4% on an annualised basis and higher than industry growth of 11.2%. Total Loans & Debt Securities grew at 9.9%.
Maybank Group Quarterly Results Q-on-Q and Y-on-Y
On a quarterly comparison, PATAMI for the third quarter ended 30 September 2012 rose 4.4% to RM1.5 billion from the RM1.44 billion in the previous quarter ended 30 June 2012. PBT for the third quarter was similar to the second quarter at RM2.02 billion. Compared to the previous corresponding quarter ended 30 September 2011, PATAMI and PBT for the quarter ended were 13.0% and 10.0% higher respectively.
Comments by Maybank Chairman, Tan Sri Megat Zaharuddin Megat Mohd Nor
"Maybank's sustained growth over the nine month period reflects our ability to adapt to global economic challenges, while at the same time, optimising our resources and growing in our new business sectors.
We intend to leverage on our global network to tap opportunities when they arise in order to enhance our total shareholders returns. At the same time, we are improving our brand presence in communities where we serve as well as enhancing productivity and efficiency to maintain a competitive edge for the future.”
Comments by Maybank President & CEO, Dato’ Sri Abdul Wahid Omar
“Our approach in growing responsibly and profitably in addition to adopting loan pricing discipline has helped us sustain profit growth over the nine months. These efforts, coupled with our strategic cost management initiatives, development of new income streams as well as expansion of regional platforms are key to helping us build efficiency and drive our region-wide growth further.
While we cannot fully avoid the headwinds in the current global economic environment resulting in lower external demand, we remain reassured that our three home markets of Malaysia, Singapore & Indonesia will see resilient domestic growth. With our focus on the region, particularly ASEAN, we expect to register reasonable business growth for the full financial year.”
Re-disseminated by The Asian Banker