Maybank has reported a 4% year-on-year increase in net profit for the first quarter of FY25, reaching RM2.59b. This growth was supported by a 1.8% rise in net operating income to RM7.71b, despite challenging economic conditions. The Group’s profit before tax also saw a 4.4% increase, totalling RM3.59b.
The bank’s net interest margin remained stable at 2.04%, bolstered by a 2.3% increase in net fund-based income to RM4.95b. This was achieved through a 3.2% year-on-year growth in loans across all key markets. Non-interest income, contributing 35.8% of total income, stood at RM2.76b, aided by improved performance in wealth management.
Overhead costs rose slightly to RM3.74b due to inflationary pressures, but pre-provisioning operating profit increased by 1.3% to RM3.97b. The Group’s asset quality remained robust, with net impairment provisions improving by 21.7% to RM426.4m, and the gross impaired loans ratio improving by 5 basis points to 1.27%.
Maybank’s President and Group CEO, Dato’ Khairussaleh Ramli, highlighted the Group’s resilience amidst global economic uncertainties, stating, “The global economic outlook remains uncertain. Nevertheless, we expect continued growth in the markets that we operate.”
Looking ahead, Maybank is focused on its M25+ strategy, which includes strengthening core operations, accelerating digital transformation, and embedding sustainability. The Group has already surpassed its sustainable finance target, achieving RM10.29b in the first quarter alone, and is on track to meet its long-term goals of carbon neutrality by 2030 and net zero by 2050.
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