Maybank Q2 profit up 2.4% on lower impairment, higher non-interest income

[SINGAPORE] Maybank on Thursday (Aug 27) reported a 2.4 per cent increase in net profit to RM2.69 billion (US$668 million) for the second quarter ended Jun 30, up from RM2.63 billion in the corresponding year-ago period.

This brought the lender’s first-half net profit to RM5.17 billion, down 0.9 per cent from RM5.22 billion in the same period last year.

The Q2 performance was supported by lower net impairment provisions on loans and higher non-interest income, even as market volatility weighed on wealth and treasury-related fees.

Earnings per share stood at RM0.2224 for Q2, up from RM0.2175 in the year-ago period.

The board declared a single-tier first interim dividend of RM0.31 a share for the financial year ending Dec 31, up from RM0.30 a share a year earlier. This represents a dividend payout ratio of 72.5 per cent.

Under the bank’s dividend reinvestment plan, an electable portion of RM0.05 a share can be reinvested in new ordinary shares. The remaining RM0.26 a share will be distributed in cash.

For Q2, net operating income fell 2.3 per cent year on year to RM7.51 billion.

Net fund-based income for the quarter expanded 1.9 per cent to RM5.03 billion, while non-interest income slipped 9.6 per cent to RM2.49 billion.

Overhead expenses for the quarter dropped 2.5 per cent year on year to RM3.69 billion, driven by tighter control over staff-related costs and marketing expenses.

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Allowances for impairment losses on loans, advances, financing and other debts fell 26 per cent to RM313.5 million for Q2, from RM423.4 million in the year-ago period.

For H1, Maybank’s net interest margin expanded by 10 basis points year on year to 2.12 per cent.

This was underpinned by discipline in funding costs and loan pricing.

As at Jun 30, 2026, gross loans, advances and financing grew 2.7 per cent year on year to RM695.9 billion, while customer deposits reached RM700.9 billion.

The group’s current account and savings account ratio improved to 41.5 per cent.

Maybank said it remains cautiously optimistic. It will continue to balance responsible growth with prudent management of asset quality, capital and liquidity amid ongoing macroeconomic and geopolitical developments.