Maybank 1Q earnings up 9.8% on higher core fees


Maybank president and group chief executive officer Datuk Khairussaleh Ramli.

PETALING JAYA: Malayan Banking Bhd (Maybank) posted a 9.8% year-on-year (y-o-y) growth in earnings in the first quarter ended March 31, 2024 (1Q24) on higher core fees and treasury and market gains, which boosted its non-interest income (NOII) by 79.2% y-o-y to RM2.74bil.

Its net fund-based income improved to RM4.84bil for the quarter from RM4.8bil a year earlier, supported by strong group gross loan growth of 11.2% from all key segments in Malaysia, Singapore and Indonesia.

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