{"id":5351,"date":"2017-03-01T16:34:22","date_gmt":"2017-03-01T08:34:22","guid":{"rendered":"http:\/\/dclass.my\/masjid\/?p=5351"},"modified":"2017-03-01T16:34:22","modified_gmt":"2017-03-01T08:34:22","slug":"maybank-fy16-pre-tax-profit-drops-to-rm8-8b","status":"publish","type":"post","link":"https:\/\/mfa.org.my\/mfa2020\/2017\/03\/01\/maybank-fy16-pre-tax-profit-drops-to-rm8-8b\/","title":{"rendered":"Maybank FY16 pre-tax profit drops to RM8.8b"},"content":{"rendered":"
\"Maybank<\/a>

Maybank said the marginally lower pre-tax profit for FY16 was on the back of additional loan provisions made throughout the year. \u2014 Reuters pic<\/p><\/div>\n

 <\/p>\n

KUALA LUMPUR, Feb 23 \u2014 Malayan Banking Bhd\u2019s (Maybank) pre-tax profit for financial year ended Dec 31, 2016 (FY16) declined to RM8.84 billion from RM9.15 billion in 2015 financial year (FY15).<\/p>\n

 <\/p>\n

Revenue, however, rose to RM44.66 billion from RM40.56 billion in FY2015.<\/p>\n

 <\/p>\n

In a filing to Bursa Malaysia today, the largest banking group in Malaysia said pre-tax profit for fourth quarter ended Dec 31, 2016 (Q416) rose to RM2.87 billion from RM2.38 billion in the same quarter previously.<\/p>\n

 <\/p>\n

In a statement today, Maybank said, the marginally lower pre-tax profit for FY16 was on the back of additional loan provisions made throughout the year.<\/p>\n

 <\/p>\n

\u201cThis is following the group\u2019s proactive stance to reschedule and restructure credit facilities of customers assessed to be potentially vulnerable to the weaker global economic conditions,\u201d it said.<\/p>\n

 <\/p>\n

Maybank Chairman, Tan Sri Megat Zaharuddin Megat Mohd Nor, said the group\u2019s performance clearly demonstrated its strength and resilience despite the volatile operating environment resulting from weaker commodity prices and various geo-political events.<\/p>\n

 <\/p>\n

He said the bank\u2019s varied business lines, diversified footprint and strong franchise continued to provide revenue growth opportunities and deliver value to stakeholders.<\/p>\n

 <\/p>\n

\u201cAs we face yet another uncertain year ahead, we intend to keep supporting our customers through this period, while at the same time tapping into growth opportunities, particularly in the infrastructure segment which is expected to be a key driver of regional economies,\u201d he said.<\/p>\n

 <\/p>\n

Group President\/Chief Executive Officer, Datuk Abdul Farid Alias, said the bank continued to benefit from the prudent stance it took over a year ago to better manage asset quality and provide additional buffers in case of a severe downturn, coupled with a controlled drive to increase revenue and discipline in managing costs.<\/p>\n

 <\/p>\n

\u201cAlthough we saw a modest pick-up in Q416, we have nevertheless chosen to maintain a cautious approach in respect of continuing to reschedule and restructure accounts which could experience stress over the medium term, given the challenging outlook ahead,\u201d he said.<\/p>\n

 <\/p>\n

For the full year, the group\u2019s gross loans rose by a steady 5.7 per cent, lifted by 8.7 per cent rise in the Indonesian operations, 6.3 per cent in Malaysia and 4.5 per cent in Singapore \u2014 all well ahead of the guidance set for the year.<\/p>\n

 <\/p>\n

Deposits also maintained an increasing trend, reflecting the group\u2019s leverage on the region, rising 5.2 per cent year-on-year to RM521.4 billion as at December 2016.<\/p>\n

 <\/p>\n

Disciplined management of assets and liabilities throughout the year has enabled the group to contain intense pressures on margins, resulting in the net interest margin for FY16 dipping by only four basis points to 2.27 per cent from 2.31 per cent a year earlier.<\/p>\n

 <\/p>\n

At the same time, rigorous cost control ensured that its rise was capped at a pace well below revenue growth, bringing the group\u2019s cost-to-income ratio to a six-year low of 47.3 per cent.<\/p>\n

 <\/p>\n

The board of directors has proposed a final single-tier dividend of 32 sen per share.<\/p>\n

 <\/p>\n

It announced a dividend payout ratio of 78.1 per cent of net profit for FY16, with a dividend yield of 6.3 per cent \u2014 one of the highest in the region among banking groups.<\/p>\n

 <\/p>\n

The group\u2019s Islamic banking business registered a healthy growth with pre-tax profit rising 13.4 per cent to RM1.95 billion compared with a year earlier.<\/p>\n

 <\/p>\n

Etiqa Insurance & Takaful recorded a robust 34 per cent rise in pre-tax profit to RM809.7 million on the back of a 4.3 per cent rise in net operating income to RM1.59 billion.<\/p>\n

 <\/p>\n

PT Bank Maybank Indonesia Tbk recorded its highest ever profit after tax and minority interests of 1.9 trillion rupiah for FY16, a 71 per cent increase from 1.1 trillion rupiah achieved in the previous year.<\/p>\n

 <\/p>\n

Maybank\u2019s Indochina\u2019s operations, comprising Cambodia, Vietnam, Laos and Myanmar, saw pre-tax profit for FY16 increase by 9.4 per cent to RM73.8 million compared with a year earlier, supported mainly by a 16 per cent rise in net income to RM200.3 million. \u2014 Bernama<\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

  KUALA LUMPUR, Feb 23 \u2014 Malayan Banking Bhd\u2019s (Maybank) pre-tax profit for financial year ended Dec 31, 2016 (FY16) declined to RM8.84 billion from RM9.15 billion in 2015 financial year (FY15).   Revenue, however, rose to RM44.66 billion from RM40.56 billion in FY2015.   In a filing to Bursa Malaysia today, the largest banking…<\/p>\n","protected":false},"author":1,"featured_media":5352,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[33],"tags":[],"_links":{"self":[{"href":"https:\/\/mfa.org.my\/mfa2020\/wp-json\/wp\/v2\/posts\/5351"}],"collection":[{"href":"https:\/\/mfa.org.my\/mfa2020\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mfa.org.my\/mfa2020\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mfa.org.my\/mfa2020\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mfa.org.my\/mfa2020\/wp-json\/wp\/v2\/comments?post=5351"}],"version-history":[{"count":0,"href":"https:\/\/mfa.org.my\/mfa2020\/wp-json\/wp\/v2\/posts\/5351\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mfa.org.my\/mfa2020\/wp-json\/wp\/v2\/media\/5352"}],"wp:attachment":[{"href":"https:\/\/mfa.org.my\/mfa2020\/wp-json\/wp\/v2\/media?parent=5351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mfa.org.my\/mfa2020\/wp-json\/wp\/v2\/categories?post=5351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mfa.org.my\/mfa2020\/wp-json\/wp\/v2\/tags?post=5351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}