Malayan Banking Berhad Group President & Chief Executive Officer Datuk Abdul Farid Alias
KUALA LUMPUR: Malayan Banking Bhd (Maybank) posted slightly higher earnings of RM1.584bil in the second quarter ended June 30, 2015.
It said on Thursday the earnings were up 0.5% from the RM1.575bil a year ago. Revenue was up 2% to RM8.935bil from RM8.759bil.
Earnings per share were 16.76 sen compared with 17.47 sen. It rewarded shareholders with a dividend of 24 sen a share, similar to a year ago.
In the first half, its earnings rose 3.4% to RM3.285bil from RM3.117bil in the previous corresponding period. Revenue was up 5.8% to RM18.120bil from RM17.116bil.
Commenting on the second quarter financial results, it said the group’s net interest income and Islamic Banking income for Q2 FY15 increased by RM430.5mil or 13.4% compared to a year ago, largely due to the growth in the group's gross loans, advances and financing,” it said.
Maybank said the group's other operating income for Q2 FY15 fell by RM169.5mil or 12.4% to RM1.195bil for Q2 FY15 from a year ago.
The decrease was mainly contributed by unrealised mark-to-market loss on revaluation of financial assets at FVTPL and derivatives of RM176.5mil compared to unrealised mark-to-market gain on revaluation of financial assets of FVTPL and derivatives of RM256.9mil in the a year ago.
The decrease was, however, mitigated by net foreign exchange gain in current quarter of RM84.1mil compared to net foreign exchange loss of RM78.7mil a year ago and higher fee income of RM44.2mil.
The group's net insurance benefits and claims incurred, net fee and commission expenses, change in expense liabilities and taxation of life and takaful fund decreased by RM127.2mil to RM1bil compared a year ago. The decrease was mainly attributable to lower net insurance benefits and claims incurred by the Insurance and Takaful subsidiaries of RM157min.The decrease was, however, offset by higher net fee and commission expenses of RM35.2mil.
Maybank said its overhead expenses rose RM332.2mil or 15.9% on-year mainly due to higher personnel expenses of RM230.6mil and administration and general expenses of RM151.5mil.The increase was, however, mitigated by lower establishment costs and marketing expenses of RM40.6mil and RM9.2mil.
“Group's allowance for impairment losses on loans, advances, financing and other debts for Q2 ended June 30, 2015 increased by RM146.6mil from a year ago. The increase was mainly due to higher net IA made of RM348.3mil.
“The increase was, however, mitigated by writeback of CA of RM51.8mil in current quarter ended June 30, 2015 as compared to CA made of RM183.0mil a year ago,” it said.
It said on Thursday the earnings were up 0.5% from the RM1.575bil a year ago. Revenue was up 2% to RM8.935bil from RM8.759bil.
Earnings per share were 16.76 sen compared with 17.47 sen. It rewarded shareholders with a dividend of 24 sen a share, similar to a year ago.
In the first half, its earnings rose 3.4% to RM3.285bil from RM3.117bil in the previous corresponding period. Revenue was up 5.8% to RM18.120bil from RM17.116bil.
Commenting on the second quarter financial results, it said the group’s net interest income and Islamic Banking income for Q2 FY15 increased by RM430.5mil or 13.4% compared to a year ago, largely due to the growth in the group's gross loans, advances and financing,” it said.
Maybank said the group's other operating income for Q2 FY15 fell by RM169.5mil or 12.4% to RM1.195bil for Q2 FY15 from a year ago.
The decrease was mainly contributed by unrealised mark-to-market loss on revaluation of financial assets at FVTPL and derivatives of RM176.5mil compared to unrealised mark-to-market gain on revaluation of financial assets of FVTPL and derivatives of RM256.9mil in the a year ago.
The decrease was, however, mitigated by net foreign exchange gain in current quarter of RM84.1mil compared to net foreign exchange loss of RM78.7mil a year ago and higher fee income of RM44.2mil.
The group's net insurance benefits and claims incurred, net fee and commission expenses, change in expense liabilities and taxation of life and takaful fund decreased by RM127.2mil to RM1bil compared a year ago. The decrease was mainly attributable to lower net insurance benefits and claims incurred by the Insurance and Takaful subsidiaries of RM157min.The decrease was, however, offset by higher net fee and commission expenses of RM35.2mil.
Maybank said its overhead expenses rose RM332.2mil or 15.9% on-year mainly due to higher personnel expenses of RM230.6mil and administration and general expenses of RM151.5mil.The increase was, however, mitigated by lower establishment costs and marketing expenses of RM40.6mil and RM9.2mil.
“Group's allowance for impairment losses on loans, advances, financing and other debts for Q2 ended June 30, 2015 increased by RM146.6mil from a year ago. The increase was mainly due to higher net IA made of RM348.3mil.
“The increase was, however, mitigated by writeback of CA of RM51.8mil in current quarter ended June 30, 2015 as compared to CA made of RM183.0mil a year ago,” it said.
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