From left: Maybank chairman Tan Sri Ir. Zamzamzairani Mohd Isa, president and Group CEO Datuk Khairussaleh Ramli and group chief financial officer Shafiq Abdul Jabbar.
KUALA LUMPUR: Malayan Banking Bhd
(Maybank) registered another period of profit growth in the first half of 2025 (1HFY25), despite a narrower net interest margin (NIM) amid a lower interest rate environment.
"Our first half results reflect a resilient performance despite a challenging backdrop, registering a sustained growth in profitability," said president and group CEO Datuk Sri Khairussaleh Ramli in a statement.
"As we near the end of the M25+ strategy, our focus remains on delivering differentiated customer experiences, growing responsibly and realising our aspiration to become Asean’s leading purpose-driven bank.”
In 1HFY25, the country's largest lender by assets said net profit rose to RM5.22bil as compared to RM5.02bil in the year-ago period.
Revenue during the period under review was RM33.95bil, down from RM35.52bil in the comparative period, while earnings per share climbed to 43.2 sen from 41.59 sen in 1HFY24.
The board of directors declared a full-cash dividend of 30 sen per share, which translates into a dividend payout ratio of 69.5% equivalent to RM3.62bil.
In its second-quarter result, the net profit came to RM2.63bil, an increase from RM2.53bil, while revenue slipped to RM17.08bil from RM17.17bil in the year-ago quarter.
According to the bank, net operating income for 1HFY25 was 3.2% higher year-on-year (y-o-y) to RM15.4bil due to a robust 7% y-o-y increase in non-interest income (NOII) to RM5.51bil.
Net fund based income improved more modestly to RM9.89bil from RM9.77bil in the previous year period.
NIM, however, was down two basis points y-o-y, due to the softer rate enviroment, especially in Singapore.
According to the group, overhead cost was slightly higher at RM7.53bil from RM7.25bil in the year-ago period.
Net impairment provisions improved 2.5% to RM901mil on lower loan provisions.
On its balance sheet, Maybank said group loans growth tapered to 1.3% y-o-y across its home markets in 1HFY25, reflecting the expected moderation amid global headwinds and tighter financial conditions.
The group’s deposits, meanwhile, expanded 6.1%, led by Singapore, registering a robust increase of 21.5% followed by the Malaysian market of 4.9%.
