Maybank net profit hits record high

Higher growth: (from left) Farid, Maybank chairman Datuk Mohaiyani Shamsudin and CFO Datuk Amirul Feisal Wan Zahir at the briefing. The country’s largest banking group saw its total loans grow by 4.8 in financial year 2018, as compared with a growth of only 1.7 a year earlier.

KUALA LUMPUR: Malayan Banking Bhd’s (Maybank) total loan growth expanded at a faster rate in the financial year ended Dec 31, 2018 (FY18), lifting the bank’s net profit to a new record high of RM8.11bil.

Maybank, the country’s largest banking group, saw its total loans growing by 4.8% in FY18, as compared with a growth of only 1.7% a year earlier. The bank’s stronger loans last year was a result of continued growth in loans across its three home markets – Malaysia (4.8%), Singapore (4.5%) and Indonesia (7%).