Maybank net profit at RM2.6bil, driven by corporate banking

New Straits Times

26-05-2025

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 today.
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 previously 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.
"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.
In a separate statement, Maybank president and group chief executive officer Datuk Khairussaleh Ramli said the bank has continued to deliver commendable earnings growth for 1Q FY2025 underpinned by stable net interest margins, better asset quality and disciplined cost management, despite ongoing global macroeconomic headwinds.
He said the group remains resilient, supported by a focused business strategy and disciplined execution in efforts to meet the evolving customer needs.
"The global economic outlook remains uncertain. Nevertheless, we expect continued growth in the markets that we operate. Key to us is to support our clients, especially those in need, during this challenging period.
"At the same time, we continue to strengthen our position across ASEAN, capitalising on intra-ASEAN and ASEAN+ opportunities, particularly in trade, investment and cross-border connectivity," he said.
Khairussaleh said Maybank's focus on completing its corporate strategy known as M25+ remains steadfast, as it continues to drive meaningful progress on its strategic thrusts — strengthening the bank's core, accelerating digital transformation and embedding sustainability.
"We are particularly encouraged by the growing impact of our values-based solutions, which continue to create tangible benefits for our customers, while delivering positive social impact and environmental outcomes across the markets we serve," he added.