gohlaiKUALA LUMPUR: Malayan Bank- ing Bhd (Maybank) reported a 7.92% fall in net profit to RM1.61 billion for the third quarter end- ed Dec 31, 2014 (3QFY14) from RM1.75 billion a year ago, on lower operating profit before im- pairment losses. The lower operating profit was largely due to a net loss incurred by Maybank’s insurance and takaful business, which record- ed a net loss of RM268.6 million for the nine-month cumulative period (9MFY14) compared to a net income of RM76.1 million in 9MFY13. “The net loss was mainly attrib- utable to higher net benefits and claims incurred, lower net earned premiums and higher tax expense of RM218.8 million, RM156.1 million and RM27.8 million, respectively. However, this was mitigated by low- er net fee and commission expens- es of RM57 million,” Maybank told Bursa Malaysia yesterday. Revenue for 3QFY14 was 7.95% higher at RM8.93 billion, from RM8.28 billion in 3QFY13. Meanwhile, net profit for the nine months ended Sept 30 (9MFY14) was marginally 0.73% lower at RM4.79 billion from RM4.82 bil- lion a year ago, even though revenue was at RM26.05 billion, 4.28% higher than RM24.98 billion in 9MFY13. Maybank said the group’s net interest income and Islamic Banking income for 9MFY14 in- creased by RM505.4 million or 5.5% to RM9.73 billion compared to 9MFY13, largely due to growth in net loans, advances and financ- ing, which mainly came from its Islamic banking operations. The group’s non-interest income for 9MFY14 declined RM561.5 mil- lion or 12.3% to RM3.99 billion, mainly due to a lower foreign ex- change gain of RM1.21 billion, a lower gain on disposal of financial investments available-for-sale of RM310 million, and a lower gain on disposal of financial assets at fair value through profit or loss of RM91.5 million. Meanwhile, the group expressed confidence that its common equi- ty tier 1 (CET1) capital ratio will be well ahead of the minimum level of 7% (inclusive of capital conser- vation buffer) as required by 2019. “The deepening of Maybank’s business portfolio in the region is another near-term priority for the group in 2014. “It includes improving client interface within the global banking business, providing cross-border banking solutions via the Maybank Islamic business and expansion of insurance and takaful services in other markets,” it said.
88et88Dividend share, drop = chance to buy cheaper and wait for next dividend, 1 day will up >10 for sure
samerWill continue drop coz heavily exposed to O & G sector.......!!
vinvinI think the peoples' reception over the result was overacted as the profit for the current quarter was also good although it was lesser than the previous quarter. I'm very confident that Maybank will continue to make good profit n rewards the shareholders with good dividends. Trade at own risk