Malayan Banking Bhd (Maybank) will tap fully growth opportunities that arise as Malaysia assumes the Asean chairmanship this year, especially in areas of sustainability, transition finance, and micro, small, and medium-sized enterprises (MSMEs).
It said in its 2024 annual report themed “Purpose Driven with Agility” that the bank is also eyeing growth opportunities in trade and Islamic finance as well as wealth management.
“With a presence in all 10 Asean countries, Maybank looks to fully tap into the growth opportunities that will arise,” he said in the report.
“I’m upbeat about the prospects for the banking industry, especially with Budget 2025 focused on driving positive economic progress along with transformative reforms for the continued prosperity of the people. With clearly outlined roadmaps, these initiatives will attract significant foreign direct investment which, in turn, will strengthen Malaysia’s standing as a high-performing nation,” he added.
For the year under review, Maybank recorded a net profit of RM10.09 billion and a return on equity of 11.1 per cent.
Maybank’s overall loans growth was driven by Malaysia, Singapore and Indonesia, which expanded by 8.2 per cent, 8.9 per cent and 11.7 per cent, respectively.
“Loan growth for our key markets was supported by good growth across our consumer, non-retail and corporate segments, especially in the super growth areas of non-retail and mid-market as well as mortgages, with the latter used as an anchor product to boost our cross-sell capabilities,” he added.
Meanwhile, Maybank’s total deposits grew 6.5 per cent year-on-year (y-o-y) as total current and savings accounts (CASA) grew 5.5 per cent led by Singapore (18.0 per cent), Indonesia (6.6 per cent) and Malaysia (5.0 per cent).
Total fixed deposits also rose 5.8 per cent led by Singapore (18.9 per cent) and Malaysia (15.3 per cent).
Group CASA ratio remained stable at 36.5 per cent from 36.8 per cent a year earlier.
“Our liquidity indicators such as liquidity coverage ratio and net stable funding ratio remained healthy at 134.0 per cent and 116.4 per cent, respectively,” he said. — BERNAMA
