Maybank Berhad released it financial year ending 2023 results with the group posting profit after tax and zakat attributable to equity holders of RM9,349.8 million for the financial year ended 31 December 2023, an increase of RM1,389.3 million or 17.5% as compared to the previous corresponding financial year ended 31 December 2022.
The groups revenue soared to RM64 billion compared to RM49 billion it achieved in 2022, Maybank added that it net interest income and Islamic Banking income for the financial year ended 31 December 2023 decreased by RM860.7 million or 4.1% to RM20,368.7 million as compared to the previous corresponding financial year ended 31 December 2022.
However, the insurance/takaful service result increased by RM338.4 million or 159.9% to RM550.1 million for the financial year ended 31 December 2023 as compared to the previous corresponding the financial year ended 31 December 2022
For the fourth quarter under review, the group posted profit after tax and zakat attributable to equity holders of RM2,387.8 million for the quarter ended 31 December 2023, an increase of RM182.5 million or 8.3% as compared to the previous period corresponding quarter ended 31 December 2022.
This comes of the back of a revenue uptick from RM15 billion to RM17 billion achieved in the last quarter for the financial period.
The Group’s insurance/takaful service result for the quarter ended 31 December 2023 increased by RM243.5 million to RM283.8 million as compared to the previous period corresponding quarter ended 31 December 2022. Net interest income and Islamic Banking income for the quarter ended 31 December 2023 decreased by RM255.3 million or 4.6% to RM5,241.2 million as compared to the previous period corresponding quarter ended 31 December 2022.
On the outlook, Maybank said given the improved regional economic outlook, Maybank Group is poised to capitalise on identified business growth in key areas of Group Community Financial Services, Group Global Banking and Group Insurance & Takaful in the home markets. The focus will cut across fund based and fee based income, leveraging the Group’s regional
presence and sizeable customer base.
The Board of Directors has declared a single-tier second interim cash dividend in respect of the current financial year
ended 31 December 2023 of 31.0 sen per ordinary share, amounting to dividend payable of RM3,740,755,180 (based
on 12,066,952,192 ordinary shares issued as at 28 February 2024)
