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Solid Start For Maybank With Q1 Profit Rising 4% To RM2.59 Billion

Malayan Banking Bhd recorded a net profit of RM2.59 billion attributable to equity holders for the first quarter ended 31 March 2025 (Q1 FY2025), up 4% year-on-year (YoY) from RM2.49 billion in the same period last year. The Group's performance was underpinned by stronger lending activity and a sharp rebound in its insurance and takaful segment, even as other operating income took a hit from adverse market revaluation effects. Key Highlights for the quarter include: Net profit : RM2.59 billion (+4.0% YoY) : RM2.59 billion (+4.0% YoY) Net interest and Islamic banking income : RM5.29 billion (+0.8% YoY) : RM5.29 billion (+0.8% YoY) Insurance/takaful service results : RM471.4 million (+RM289.3 million YoY) : RM471.4 million (+RM289.3 million YoY) Other operating income : RM2.10 billion (-26.8% YoY) : RM2.10 billion (-26.8% YoY) Impairment losses on loans and debts : RM384.2 million (-17.9% YoY) : RM384.2 million (-17.9% YoY) Overhead expenses : RM3.74 billion (+2.3% YoY) : RM3.74 billion (+2.3% YoY) Maybank's net interest income and Islamic banking income edged up 0.8% to RM5.29 billion, indicating continued resilience in its core banking operations amid evolving market dynamics. The standout performer was the Group's insurance and takaful business, which saw its service result jump by RM289.3 million to RM471.4 million. This was a significant contributor to the Group's overall earnings growth in the quarter. The Group's other operating income, however, declined sharply by RM768.5 million or 26.8% to RM2.10 billion. This was primarily due to unrealised mark-to-market losses on financial investments and liabilities measured at fair value through profit or loss (FVTPL). In contrast to gains in Q1 FY2024, the Group recorded a RM765.6 million loss on investment revaluation and a RM374.6 million loss on financial liabilities. These losses were partially offset by a turnaround in derivatives, with unrealised gains of RM816.0 million, and a higher foreign exchange gain of RM498.9 million for the quarter.C The Group's solid start sets a positive tone for FY2025 as it continues to strengthen its leadership position in Malaysia and the region. Related