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

KUALA LUMPUR, Feb 21 (Bernama) -- 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.

Maybank President-cum-Chief Executive Officer Datuk Seri Abdul Wahid Omar said the banking institution's record earnings have been achieved through the sound fundamentals it has laid over the last few years and its diversified presence and product offerings in regional markets.

"We intend to raise the tempo in our regionalisation agenda, not only by leveraging on opportunities in existing markets, but also in looking for new avenues where we can build a franchise.

"We will be relentless in improving our cost structure and accelerating our move to a high performing culture.

"Maybank is also expecting global macro economic growth to stabilise in 2013, which will add with the improving economic conditions in our key home markets. It is expected to drive Maybank Group's earnings momentum for the year," he said.

Wahid said Maybank was well capitalised and ready to support its expanding regional franchise.

For 2013, the Malaysia's largest commercial bank has set aggressive targets for the year, among them raking in a 15 per cent return on investment on an enlarged capital base and 12 per cent group loan growth.

Wahid said Maybank expects its international business activities to contribute about 33 per cent to the group's profit this year, against 30 per cent registered last year.

"This is in line with our intention of raising the contribution of our international business to 40 per cent by 2015," he said.

Wahid said Maybank's business momentum is expected to continue this year on the back of improved loans growth in its three home markets (Malaysia, Indonesia and Singapore) as well as other markets in the region, higher non-interest income as a result of healthy deal pipeline for the investment banking business, while deriving higher revenue from regional initiatives.

"Having established its presence in all 10 countries in Asean last year, the group is focused on building a truly regional organisation.

"The global wholesale banking's global relationship coverage model is being extended to realise merger synergies with Maybank Kim Eng and will see closer collaborations with overseas units, especially in Singapore, Indonesia and the Philippines," he added.

-- BERNAMA


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