Malayan Banking Bhd achieved a net profit of RM2.04 billion on the back of a turnover of RM11.907 billion for the first quarter ended March 31, 2022, from a net profit of RM2.392 billion on the back of a turnover of RM12.217 billion.
In a statement, Maybank chairman Tan Sri Zamzamzairani Mohd Isa, the escalation of geopolitical tensions, resultant market volatility as well as inflationary pressures somewhat dampened the positive impact of the resumption of economic activities and gradual reopening of international borders.
“While we are cautious in our outlook for the rest of the year given significant uncertainties, we will remain guided by the forward-looking strategies set out in our M25 Plan.
“We intend to actively drive new business growth in this recovery period, while at the same time continue supporting our customers to ensure they are able to remain sustainable in the long term,” he added.
Its Net Fund-based income was up 5.3% to RM4.89 billion while its Net fund-based income up 5.3% to RM4.89b. Its · Net operating income was 5.4% lower at RM6.45billion while overhead expenses increased 4.0% to RM2.93billion.
Meanwhile, its new group president and CEO Dato’ Khairussaleh said that the positive trends in the Group’s 1QFY22 financial performance were evident across key markets despite the lingering impact of global factors on the operating environment.
“While the outlook for the remaining part of the year remains mixed at this stage, we will focus on tapping into growth opportunities across customer segments in our key markets while maintaining our capital and liquidity strength to facilitate these growth opportunities. At the same time, we will ensure our risk management capabilities remains robust, and cost management and productivity efforts continue. Additionally, we aim to accelerate solution rollouts on our digital platforms to continue to fulfil customers’ journeys while increasing our market penetration regionally.”
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