Kuala Lumpur: Maybank announced that Group net profit for the financial year ended 31 December 2014 (FY14) reached another record of RM6.72 billion, lifted by a strong 11.5% rise in net earnings for the fourth quarter of FY14.
Maybank is South East Asia’s fourth largest bank by assets. For the fourth quarter (October-December) of FY14 (Q4FY14), net profit came in at RM1.93 billion compared to RM1.73 billion in the previous year boosted by a 21.6% Y-o-Y increase in fee income as well as a 1.6% rise in net fund based income. PBT for the quarter was 5.6% higher at RM2.43 billion compared with RM2.30 billion a year earlier.
The full year earnings were 2.5% higher than the RM6.55 billion achieved in the previous year. Profit before tax (PBT) meanwhile, was 2.7% higher at RM9.11 billion from RM8.87 billion a year earlier. The Group saw overall income for FY14 growing steadily across most of its business lines with International operations recording the highest Y-o-Y income growth of 6.5%, helping boost its contribution to Group income to 36.1% from 34.4%, a year earlier. Additionally, it managed to mitigate the impact of slower capital market activities on its Global Market and Investment banking businesses to close the year with relatively stable income levels for both these sectors.
