BRANCH BANKING | Staff Reporter, Philippines

Maybank Philippines reports 36.8% revenue rise

Also posts 55.9% year-on year jump in pre-tax profit.

Maybank Philippines reported revenues at US$22 million on account of higher non-interest income for the first quarter ended March 31. Loan growth was marginally lower by 0.9% due to a huge corporate loan repayment of over US$12.4 million.

Deposits grew 7.5% from the preceding quarter to US$930 million on while net interest margin improved to 5.00% from 4.48% in the preceding quarter.

With a presence in all 10 ASEAN member states, Maybank Group is focused on building a regional organization. Its global banking global relationship coverage model is being extended to realize merger synergies with Maybank Kim Eng, and will see closer collaboration with overseas units especially in the Philippines Singapore and Indonesia.

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