Maybank profit at RM2.49 billion driven by corporate banking
Published on: Tuesday, May 27, 2025
Published on: Tue, May 27, 2025
By: Bernama Text Size: Maybank will also seek to maintain sound liquidity, robust asset quality, and strong capital levels to support disciplined asset growth. Kuala Lumpur: Malayan Banking Bhd (Maybank) net profit has risen to RM2.59 billion in the first quarter ended on March 31, 2025 (1Q FY2025) from RM2.49 billion a year ago, driven by the group's corporate banking and global markets segment. Revenue for the quarter under review fell to RM16.87 billion versus RM18.35 billion previously, it said in a Bursa Malaysia filing on Monday. The group's net interest income and Islamic banking income for the quarter under review increased by RM42.2 million or 0.8 per cent to RM5,286.6 million versus a year ago. Its group insurance/takaful service rose by RM289.3 million to RM471.4 million compared to 1Q FY2024. Maybank said the group's other operating income was RM2.09 billion, a decrease of RM768.5 million, or 26.8 per cent, from RM2.87 billion previoulsy due to unrealised loss on revaluation of financial investments at fair value through profit or loss (FVTPL) of RM765.6 million versus unrealised gain of RM761.1 million a year ago. 'The losses were also driven by unrealised loss on revaluation of financial liabilities at FVTPL of RM374.6 million from RM995.5 million previously, and lower investment income of RM161.3 million.
Advertisement 'The decreases were mitigated by unrealised gain on revaluation of derivatives of RM816.0 million from RM1.14 billion previously, and higher foreign exchange gain of RM498.9 million. On prospects, the group will continue to double down on penetration of its extensive customer base through focus on segments, cross-selling endeavours and leveraging ecosystem partnerships regionally. 'We will also focus on super growth areas of wealth management, mid-market cap, non-retail and bancassurance segments whilst tapping into global market flows,' it said. Maybank will also seek to maintain sound liquidity, robust asset quality, and strong capital levels to support disciplined asset growth. 'The volatility and uncertainty surrounding potential trade disruptions, however, may have an impact on the growth and performance of the group, as a result of slower economic growth, a 'wait-and-see' stance in investments and capital raising activities, and from financial markets' volatility,' it added. No interim dividend was recommended for 1Q FY2025. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available.
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