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Maybank Q4 profit rises 6.1% to RM2.5 billion

by Yurie Miyazawa
in Leadership
Maybank Q4 profit rises 6.1% to RM2.5 billion
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MAYBANK’S net profit for the fourth quarter rose 6.1 per cent to RM2.5 billion (S$764 million), supported by improved regional economic conditions, the bank said on Wednesday (Feb 26).

Malaysia’s largest lender also attributed the increase in net profit for the three months ended Dec 31, 2024, to higher income from its wealth management, investment banking, global markets and insurance businesses.

Earnings per share for the quarter came in at 20.98 sen, up from 19.80 sen a year earlier.

The lender declared a second interim cash dividend of 32 sen, slightly higher than the 31 sen declared a year ago.

Together with the 29 sen dividend announced on Aug 28, 2024, Maybank’s full-year dividend totalled 61 sen, translating to a payout ratio of 73 per cent.

This was marginally higher than the previous year’s 60 sen dividend, which had a payout ratio of 77.4 per cent.

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For FY2024, it reported earnings of RM10.1 billion, a 7.9 per cent increase from RM9.3 billion in the previous year.

Net interest income for the fourth quarter rose 5.3 per cent to RM3.4 billion, while full-year net interest income edged up 0.1 per cent to RM12.8 billion.

Non-interest income for the full year grew 22.6 per cent to RM9.9 billion, driven by strong performance in wealth management, investment banking, global markets and insurance.

Maybank’s total group loans expanded 5.3 per cent, with Indonesia recording an 11.7 per cent year-on-year increase, while Singapore and Malaysia posted loan growth of 8.9 per cent and 8.2 per cent, respectively.

Tags: BillionMaybankProfitrisesRM2.5
Yurie Miyazawa

Yurie Miyazawa

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