Maybank's profits up 10.4% to RM3.07b

Thanks to steady loan growth.

In a release, Maybank today reported that profit after tax and minority interest (PATAMI) rose to RM3.07 billion for the six months ended 30 June 2013, buoyed particularly by a stronger second quarter.

This was 10.4% higher than the RM2.78 billion PATAMI recorded a year earlier. Profit before tax (PBT) for the Group rose 7.5% to RM4.22 billion compared with RM3.92 billion in June 2012.

The performance came on the back of steady loans growth of 9.1%, a robust increase in fee income and higher revenue growth across all business sectors.

In addition, improved profits from two other home markets of Singapore and Indonesia as well as the Islamic banking business helped boost overall Group performance.

Fee income surged 22.7% from the preceding quarter and 8.0% from a year earlier, boosted mainly by healthy gains from its investment portfolio; higher trading income particularly from Maybank Kim Eng’s record brokerage revenues in Thailand, as well as increased commissions, service charges and fees.

Fund based income meanwhile grew 8.2% from a year earlier. The Group’s relentless focus on cost management also saw the rise in overhead expenses contained below that of total income, which helped boost overall bottom-line.

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