BII boosts Maybank Q3 results
By CHOONG EN HAN
(Maybank), continued on its growth trajectory, after reporting a solid RM1.5bil in net profit for its third quarter, and an enviable 18.2% net profit growth for its nine-month period ended September.
Its nine-month net profit rose to RM4.29bil from RM3.63bil in the previous corresponding period.
“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,” said chairman Tan Sri Megat Zaharuddin Megat Mohd Nor in a statement.
He said the bank intended to leverage on its global network to tap opportunities in order to enhance total shareholders returns.
For the period under review, the bank's net revenue rose 14.8% to RM12.37bil on the back of a 14.9% growth in fund-based income and 14.8% in fee-based income.
The bank said 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,” it said.
For the Malaysian operations, it said loans growth was 12.4% on an annualised basis and higher than industry growth of 11.2%, and total loans and debt securities grew at 9.9%.
President and CEO Datuk Seri Abdul Wahid Omar said while the bank could not fully avoid the headwinds in the current global economic environment, the bank was confident that its three home markets of Malaysia, Singapore and Indonesia would see resilient domestic growth.
“With our focus on the region, particularly Asean,
we expect to register reasonable business growth for the full financial year,” he said.
Among the main drivers of its performance are a 14.8% rise in non-interest income (including fee income from Islamic operations and net income from insurance and takaful business) to RM4.78bil, led by a huge 63% rise in investment and trading income and a 14.5% increase in commissions, service charges and fees.
“Fee income from Islamic operations on its own grew 72%, mainly owing to the increase in primary subscriber fees from major deals undertaken by the investment banking business.
Net fund-based income grew 14.9% to RM7.59bil, with net interest margin stable at 2.41% at the end-September, compared with the 2.40% registered in the first six months to June 2012,” it said.
The bank's deposits stood at RM330.5bil, up 12.7% with low-cost deposits making up a significant 34.6% of total deposits.
In addition, its global wholesale banking's profit before tax (PBT) climbed 23.4% to RM2.75bil, led by more than a doubling in pre-tax profit for investment banking (to RM318mil), 25.5% rise in corporate banking (to RM1.30bil) and 5.4% growth in global markets (to RM1.13bil).
Its international banking division recorded a whopping 52.7% rise in profit driven by BII with a profit of 1.3 trillion rupiah, up 63%, and Singapore at S$307mil, an 2.8% increase.
http://biz.thestar.com.my/news/story.asp?file=/2012/11/10/business/12301849&sec=business
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Maybank Q3 profit soars to RM1.5bBy Adeline Paul RajPublished: 2012/11/10
Some analysts are to consider raising their full-year forecasts for Malaysia's biggest banking group
Malayan Banking Bhd (Maybank) reported a 12.9 per cent rise in third quarter net profit to RM1.5 billion,
which beat market expectations and led some analysts to consider raising their full-year forecasts for the country's biggest banking group.
"This bank has surprised on the upside mainly because of better-than expected net interest income and
lower-than-expected loan loss provisions," said Cheah King Yoong, banking analyst and vice-president
of equity research at Alliance Research.
The group's nine-month net profit came in at about RM4.3 billion,
18.2 per cent higher than the same period a year ago, and beating Cheah's forecast of about RM4 billion.
Cheah said he plans to raise his full-year net profit forecast for the group from RM5.3 billion currently.
Maybank's shares, which have gained 5.1 per cent so far this year,
trailing the benchmark index FBM KLCI's 7.2 per cent gain, closed flat at RM9.02 yesterday ahead of the results.
Maybank said it saw steady growth across almost all business sectors in the nine months despite the softening global economy.
Its financial performance was boosted by strong revenue growth from international banking,
particularly Bank Internasional Indonesia, as well as Islamic banking, investment banking and corporate banking.
The group's loan growth came in at 10.4 per cent, lagging its full-year target of 16.2 per cent,
in line with the general slowing down in the industry.
For the Malaysian operations, loans expanded by 12.4 per cent on an annualised basis,
beating the industry's growth of 11.2 per cent.
Maybank's president and chief executive officer Datuk Seri Abdul Wahid Omar said the group expects a "satisfactory"
performance for its fourth quarter and full financial year, underpinned by Asean economic growth.
"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 and 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," he said in a press statement.
He expects the group to exceed its return-on-equity target of 15.6 per cent for the full year,
having reached 16.3 per cent so far on an annualised basis.
Its revenue in the third quarter grew by 14.7 per cent to about RM7 billion, bringing revenue for the
first nine months to RM20.5 billion compared with RM16.9 billion in the same period a year ago.
In the third quarter, the group's net interest income and Islamic banking income grew by 14.1 per cent to RM2.7 billion compared with the same quarter a year ago. Non-interest income rose by 7.6 per cent in the same period to RM1.3 billion.
Read more: Maybank Q3 profit soars to RM1.5b http://www.btimes.com.my/Current ... _html#ixzz2BmU5RnFX
“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,” said chairman Tan Sri Megat Zaharuddin Megat Mohd Nor in a statement.
He said the bank intended to leverage on its global network to tap opportunities in order to enhance total shareholders returns.
For the period under review, the bank's net revenue rose 14.8% to RM12.37bil on the back of a 14.9% growth in fund-based income and 14.8% in fee-based income.
The bank said 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,” it said.
For the Malaysian operations, it said loans growth was 12.4% on an annualised basis and higher than industry growth of 11.2%, and total loans and debt securities grew at 9.9%.
President and CEO Datuk Seri Abdul Wahid Omar said while the bank could not fully avoid the headwinds in the current global economic environment, the bank was confident that its three home markets of Malaysia, Singapore and Indonesia would see resilient domestic growth.
“With our focus on the region, particularly Asean,
we expect to register reasonable business growth for the full financial year,” he said.
Among the main drivers of its performance are a 14.8% rise in non-interest income (including fee income from Islamic operations and net income from insurance and takaful business) to RM4.78bil, led by a huge 63% rise in investment and trading income and a 14.5% increase in commissions, service charges and fees.
“Fee income from Islamic operations on its own grew 72%, mainly owing to the increase in primary subscriber fees from major deals undertaken by the investment banking business.
Net fund-based income grew 14.9% to RM7.59bil, with net interest margin stable at 2.41% at the end-September, compared with the 2.40% registered in the first six months to June 2012,” it said.
The bank's deposits stood at RM330.5bil, up 12.7% with low-cost deposits making up a significant 34.6% of total deposits.
In addition, its global wholesale banking's profit before tax (PBT) climbed 23.4% to RM2.75bil, led by more than a doubling in pre-tax profit for investment banking (to RM318mil), 25.5% rise in corporate banking (to RM1.30bil) and 5.4% growth in global markets (to RM1.13bil).
Its international banking division recorded a whopping 52.7% rise in profit driven by BII with a profit of 1.3 trillion rupiah, up 63%, and Singapore at S$307mil, an 2.8% increase.
http://biz.thestar.com.my/news/story.asp?file=/2012/11/10/business/12301849&sec=business
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Maybank Q3 profit soars to RM1.5bBy Adeline Paul RajPublished: 2012/11/10
Some analysts are to consider raising their full-year forecasts for Malaysia's biggest banking group
Malayan Banking Bhd (Maybank) reported a 12.9 per cent rise in third quarter net profit to RM1.5 billion,
which beat market expectations and led some analysts to consider raising their full-year forecasts for the country's biggest banking group.
"This bank has surprised on the upside mainly because of better-than expected net interest income and
lower-than-expected loan loss provisions," said Cheah King Yoong, banking analyst and vice-president
of equity research at Alliance Research.
The group's nine-month net profit came in at about RM4.3 billion,
18.2 per cent higher than the same period a year ago, and beating Cheah's forecast of about RM4 billion.
Cheah said he plans to raise his full-year net profit forecast for the group from RM5.3 billion currently.
Maybank's shares, which have gained 5.1 per cent so far this year,
trailing the benchmark index FBM KLCI's 7.2 per cent gain, closed flat at RM9.02 yesterday ahead of the results.
Maybank said it saw steady growth across almost all business sectors in the nine months despite the softening global economy.
Its financial performance was boosted by strong revenue growth from international banking,
particularly Bank Internasional Indonesia, as well as Islamic banking, investment banking and corporate banking.
The group's loan growth came in at 10.4 per cent, lagging its full-year target of 16.2 per cent,
in line with the general slowing down in the industry.
For the Malaysian operations, loans expanded by 12.4 per cent on an annualised basis,
beating the industry's growth of 11.2 per cent.
Maybank's president and chief executive officer Datuk Seri Abdul Wahid Omar said the group expects a "satisfactory"
performance for its fourth quarter and full financial year, underpinned by Asean economic growth.
"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 and 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," he said in a press statement.
He expects the group to exceed its return-on-equity target of 15.6 per cent for the full year,
having reached 16.3 per cent so far on an annualised basis.
Its revenue in the third quarter grew by 14.7 per cent to about RM7 billion, bringing revenue for the
first nine months to RM20.5 billion compared with RM16.9 billion in the same period a year ago.
In the third quarter, the group's net interest income and Islamic banking income grew by 14.1 per cent to RM2.7 billion compared with the same quarter a year ago. Non-interest income rose by 7.6 per cent in the same period to RM1.3 billion.
Read more: Maybank Q3 profit soars to RM1.5b http://www.btimes.com.my/Current ... _html#ixzz2BmU5RnFX
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