Published: Thursday February 21, 2013 MYT 2:03:00 PM
Updated: Thursday February 21, 2013 MYT 9:28:00 PM
Maybank Q4 earnings up 15.9% to RM1.45b, dividends 33 sen
By Joseph Chin
KUALA LUMPUR: Malayan Banking Bhd (Maybank) reported a 15.9% increase in its earnings to RM1.459bil in the fourth quarter ended Dec 31, 2012 from RM1.259bil a year ago.
It said on Thursday the board of directors proposed a final dividend of 18 sen per share and 15 sen single-tier dividend for the 8.44 billion shares, amounting to a net dividend payable of RM2.405bil.
For Q4, 2012, Maybank's revenue increased by 4.3% to RM7.027bil from RM6.737bil while earnings per share were 17.19 sen compared with 16.72 sen.
For the financial year ended Dec 31, 2012, Maybank's net profit increased by 17.6% to RM5.744bil from RM4.884bil in FY11. Its revenue rose 15.9% to RM27.532bil from RM23.741bil.
Elaborating on the financial performance for FY12, it said non-interest income increased by RM774.1mil or 17.2% to RM5.273bil. Fee income increased by RM577.1mil, mainly due to higher fee income from the bank, higher wakalah fee earned by Etiqa Takaful Bhd and higher fee income from Maybank Kim Eng in FY12.
"The group also benefited from higher gain on sale of securities portfolio and higher unrealised gain on revaluation of securities held-for-trading and derivatives of RM231.4mil and RM343.8mil respectively.
"The increase was, however, offset by lower foreign exchange profit and lower gain on sale of development properties of RM334.8mil and RM71.1mil respectively," it said.
Maybank said the group's net interest income and Islamic banking income for FY12 increased by RM1.213bil or 12.8% from FY11 largely due to the 13.2% year-on-year growth in the Group's net loans and advances (including Islamic finance).