Kuala Lumpur: Malayan Banking Bhd (Maybank) has reported a rise in net profit to RM2.59 billion for the first quarter ended March 31, 2025 (1Q FY2025), up from RM2.49 billion in the previous year. This growth was primarily driven by the group’s corporate banking and global markets segment.
According to BERNAMA News Agency, revenue for the quarter under review decreased to RM16.87 billion from RM18.35 billion previously, as stated in a Bursa Malaysia filing. The group’s net interest income and Islamic banking income for the quarter increased by RM42.2 million or 0.8 percent to RM5,286.6 million compared to a year ago.
Maybank’s group insurance/takaful service saw an increase of RM289.3 million to RM471.4 million compared to 1Q FY2024. However, other operating income fell to RM2.09 billion, a decrease of RM768.5 million, or 26.8 percent, from RM2.87 billion previously, largely due to an unrealised loss on revaluation of financial investments at fair value through profit or loss (FVTPL) of RM765.6 million compared with an unrealised gain of RM761.1 million a year ago.
The losses were also attributed to an unrealised loss on revaluation of financial liabilities at FVTPL amounting to RM374.6 million, down from RM995.5 million previously, and lower investment income of RM161.3 million. These declines were partly offset by an unrealised gain on revaluation of derivatives of RM816.0 million from RM1.14 billion previously, alongside a higher foreign exchange gain of RM498.9 million.
Looking ahead, Maybank plans to enhance penetration of its customer base through focused segments, cross-selling efforts, and leveraging regional ecosystem partnerships. The group aims to concentrate on super growth areas like wealth management, mid-market cap, non-retail, and bancassurance segments while tapping into global market flows.
Maybank also intends to maintain sound liquidity, robust asset quality, and strong capital levels to support disciplined asset growth. However, it acknowledges that volatility and uncertainty around potential trade disruptions could impact its growth and performance due to slower economic growth, a cautious investment approach, and financial market volatility.
No interim dividend was recommended for 1Q FY2025. In a separate statement, Maybank’s president and group CEO Datuk Khairussaleh Ramli highlighted the bank’s commendable earnings growth for the quarter, supported by stable net interest margins, better asset quality, and disciplined cost management despite global macroeconomic challenges.
Khairussaleh emphasized that Maybank remains resilient with a focused business strategy and disciplined execution to meet evolving customer needs. He noted the uncertain global economic outlook but expressed optimism for continued growth in Maybank’s markets, with a commitment to supporting clients during challenging times and strengthening the bank’s position across ASEAN.
He reiterated Maybank’s dedication to completing its corporate strategy, M25+, focusing on strengthening the bank’s core, accelerating digital transformation, and embedding sustainability. Khairussaleh expressed encouragement regarding the growing impact of Maybank’s values-based solutions, which benefit customers and deliver positive social and environmental outcomes in the markets served.