Maybank’s net profit rises 28.5% to $658.5m YoY in Q3

The bank benefitted from Southeast Asia’s improving economic environment.

Maybank saw its net profit rise by 28.5% YoY to RM2.17b ($658.5m) in the third quarter (Q322) thanks to the improving economic environment across the Southeast Asian region.

The bank also announced a higher net operating income of RM7.41b ($2.3b) for the quarter (+20.6% YoY).

Maybank attributed the increase in its net operating income to its 48.0% YoY higher net fee-based income of RM2.12b ($642m) and a 12.2% rise in net fund-based income to RM5.30 billion ($1.6b).

“The improvement in net fee-based income was mainly led by mark-to-market gains in financial liabilities and foreign exchange gains while net fund-based income rose on better loans growth across all home markets and net interest margin (NIM) expansion from a rising interest rate environment,” the bank said.

Looking ahead, the bank said it will keep its “strong liquidity and capital positions to manage potential downside risks that could emerge in the operating environment.”

Follow the link for more news on

Maybank

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit