Maybank profit rises 14% to RM6.55b
Group plans to deepen portfolio in the region
MAYBANK yesterday reported record net earnings of RM6.55 billion (S$2.53 billion) on net income of RM18.54 billion for the year ended Dec 31, 2013.
This is the second year that the lender has registered record growth and illustrates the potential of its regional market with double-digit loan growth in Malaysia, Indonesia and Singapore. The bank, in its note to the stock exchange, said that it intended to accelerate plans to expand in the region.
The surging profit underscores the fact that South-east Asia remains a growth story. On Tuesday, CIMB, Malaysia's second largest bank and, like Maybank, a regional lender with a presence in most of the region, also registered record profits of over RM4 billion.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
New Articles
Singapore top recipient of Q1 cross-border investments in Apac: Knight Frank
Dasin Retail Trust’s trustee-manager chairman, directors deny allegations of misconduct
Keppel Infrastructure Trust posts 29.1% lower Q1 distributable income
Bitcoin faces worst month since FTX crash with ETF demand cooling
AIA launches wealth centre targeting high-net-worth clients
Prudential’s Q1 new business profit down 2% at S$743 million