KUALA LUMPUR, May 23 – Malayan Banking Bhd (Maybank)’s pre-tax profit for the first quarter ended March 31, 2013 rose 12.8 per cent to RM2.13 billion from RM1.89 billion chalked up in the corresponding period last year.
The growth was registered on the back of a robust growth in the group’s international operations and higher revenue growth and operating profits across key broad sectors.
Revenue for the quarter soared to RM8.23 billion from RM7.872 billion registered previously.
On an annualised basis, gross loans expanded 5.8 per cent behind a target of 12 per cent while deposits rose 9.6 per cent.
“Loans growth is expected to pick up pace in the second half of the year, driven by post election activities especially with the execution of various projects under the Economic Transformation Programme,” outgoing President/Chief Executive Officer Datuk Seri Abdul Wahid Omar said when announcing the financial results today.
Asset quality remained sound with net impaired loans ratio at a healthy 1.18 per cent compared with 1.57 per cent recorded in the corresponding period a year ago.
– BERNAMA
