KUALA LUMPUR Feb 21 Malayan Banking Bhd
(Maybank), Southeast Asia's fourth-biggest lender by
assets, reported a 16 percent rise in quarterly profit on
Thursday, bolstered by higher net loans, advances and fee
Net profit in its October-December fourth quarter was 1.46
billion ringgit ($471.5 million), up from 1.26 billion ringgit a
year earlier, Maybank said in a local stock exchange filing. The
result was slightly lower than the average estimate of a 1.51
billion ringgit profit in a Thomson Reuters I/B/E/S poll of two
Quarterly revenue rose 4.3 percent year-on-year. The company
announced a dividend of 33 sen per share.
"Barring any unforeseen circumstances, the group expects its
financial performance for the financial year ending Dec. 31,
2013 to be better than the previous financial year," Maybank
said in the filing.
Growing economies in Southeast Asia have helped Malaysian
banks to expand in recent quarters, cushioning them from slowing
Maybank, Malaysia's biggest bank, recently injected $100
million into its Philippine unit to expand its network in that
country. Last year, second-ranked CIMB Group Holdings Bhd
bought some of the Asian operations of Royal Bank of
Scotland Plc and the unlisted banking arm of the
Philippines' San Miguel Corp.
For 2012, Maybank's net profit rose 18 percent to 5.74
billion ringgit, as revenue climbed 16 percent. The average
forecast in a Thomson Reuters I/B/E/S poll of 26 analysts was
for a full-year profit of 5.59 billion ringgit.
Shares of Maybank rose 10 percent in 2012, compared with a
12 percent rise in the broader market. They were down
0.2 percent prior to the results announcement, against the
market's 0.6 percent fall.