Maybank Singapore’s profit before tax doubles to S$655.92m in 2022

This was reportedly thanks to higher income and lower loan loss allowances.

Maybank Singapore’s full year profit before tax doubled to S$655.92m in 2022, according to the bank’s latest financial results announcement.

This is more than double its 2021 PBT of S$324.92m.

Malaysia’s biggest bank by assets said that its profit rise was mainly thanks to higher income and lower loan loss allowances due to “significant” recoveries.

ALSO READ: Malaysian banks “well-placed” to weather 2023 headwinds: S&P

Non-interest income was also significantly higher by 51.5% at S$406.75m compared with S$268.44m a year earlier.

Maybank attributed the rise of non-interest income to a boost in treasury fees as well as credit related fees & cards commission.

Loans expanded slightly by 0.5% year-on-year.

Follow the link for more news on

Maybank

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit