Maybank’s earnings rise to RM6.55b in FY13, dividend 31 sen (Update)
KUALA LUMPUR: Malayan Banking Bhd (Maybank) posted RM6.55bil in earnings in the financial year ended Dec 31, 2013 (FY13), which was an increase of 14% from the RM5.74bil in FY12.
It said on Thursday revenue rose 6.47% to RM33.25bil in FY13 from RM31.227bil a year ago. It rewarded shareholders with a dividend of 31 sen a share.
Maybank said the group's net interest income and Islamic Banking income for FY13 increased by RM902.5mil or 7.9% from a year ago largely due to the 14.0% year-on-year growth in the group's net loans and advances (including Islamic finance).
The group's net income from insurance and takaful business for FY13 increased by RM309.2mil from a year ago.
"The increase was mainly due to lower net benefits and claims of RM777.9mil, lower net fee and commission expenses of RM69.6mil and lower expense liability of RM32.5mil. The decrease in costs wa offset by lower premium earned of RM576.6mil," it said.
Maybank added its non-interest income for FY13 rose 10.4% or RM553.4mil to RM5.882bil. The increase was mainly due to higher net foreign exchange gain of RM1.153bil,higher fee income of RM371.3mil and higher gain on disposal of financial investments available-for-sale of RM224.1mil.
"The increase was, however, offset by higher unrealised loss on revaluation of financial assets at fair value through profit or loss and derivatives of RM1.021bil," it said.
In the fourth quarter ended Dec 31, 2013, its earnings rose 18.6% to RM1.73bil from RM1.459bil a year ago. Its revenue rose 5.9% to RM8.269bil from RM7.802bil. Earnings per share were 19.58 sen compared with 17.3 sen.
Maybank’s net interest income and Islamic banking income for the quarter ended Dec 31, 2013 increased by RM244.0mil or 8.3% from a year ago. This was largely due to the growth in group's net loans and advances (including Islamic finance).
Maybank said the group's net interest income and Islamic Banking income for FY13 increased by RM902.5mil or 7.9% from a year ago largely due to the 14.0% year-on-year growth in the group's net loans and advances (including Islamic finance).
The group's net income from insurance and takaful business for FY13 increased by RM309.2mil from a year ago.
"The increase was mainly due to lower net benefits and claims of RM777.9mil, lower net fee and commission expenses of RM69.6mil and lower expense liability of RM32.5mil. The decrease in costs wa offset by lower premium earned of RM576.6mil," it said.
Maybank added its non-interest income for FY13 rose 10.4% or RM553.4mil to RM5.882bil. The increase was mainly due to higher net foreign exchange gain of RM1.153bil,higher fee income of RM371.3mil and higher gain on disposal of financial investments available-for-sale of RM224.1mil.
"The increase was, however, offset by higher unrealised loss on revaluation of financial assets at fair value through profit or loss and derivatives of RM1.021bil," it said.
In the fourth quarter ended Dec 31, 2013, its earnings rose 18.6% to RM1.73bil from RM1.459bil a year ago. Its revenue rose 5.9% to RM8.269bil from RM7.802bil. Earnings per share were 19.58 sen compared with 17.3 sen.
Maybank’s net interest income and Islamic banking income for the quarter ended Dec 31, 2013 increased by RM244.0mil or 8.3% from a year ago. This was largely due to the growth in group's net loans and advances (including Islamic finance).