Maybank 9 months net profit surges 23% to RM5.39 B

MAYBANK for the nine months ended September 30, 2017 surged 23.0 percent to RM5.39 billion compared to a year earlier as the Group ben - nomic climate across the region. Higher net fund-based income as well as a 25.2 percent decline in net impairment losses boosted the 20.1 percent from a year earlier to RM7.17 billion.

Net operating income for the nine months rose 6.8 percent Y-o-Y to reach RM17.29 billion, with growth coming from across all business sectors led by Group Community Financial Services which registered an 8.6 percent rise, Group Insurance & Takaful 2.8 percent and Group Global Banking 0.9 percent.

Maybank Chairman, Datuk Mohaiyani Shamsudin ( left) said, “The results we have achieved demonstrate that the group has been able to sustain its growth momentum across its business lines as well as home markets in the last nine months. The outlook for the remaining months appears to be improving, giving us the opportunity to seek new growth segments. We will, nevertheless, continue to manage our business prudently, ensuring that we grow responsibly while managing costs and risks in a highly disciplined manner.”

Meanwhile, Group President & CEO, Datuk Abdul Farid Alias said, “Our strong franchise and resilient balance sheet has enabled us to ride through the challenging period over the last few quarters as well as support our customers through the changing economic cycles. We are now seeing a pickup in business and loan growth as well as market sentiments, which we intend to leverage further in the coming months.