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Maybank Quarterly - September 2018 |
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| Maybank 1H FY18 PBT rises 15% to RM5.17 billion |
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Maybank announced that profit before tax for the half year ended 30 June 2018 rose 15% to RM5.17 billion from RM4.49 billion a year earlier, on the back of higher operating income, lower impairments as well as reduced overheads as a result of better cost management. Net profit for the period came in 13.9% higher at RM3.83 billion from RM3.36 billion a year earlier.
For the second quarter of financial year 2018 (Q2FY18), profit before tax rose 16.3% to RM2.61 billion from RM2.24 billion a year ago while net profit surged 18.1% to RM1.96 billion compared with RM1.66 billion in Q2FY17.
Net fee based income grew 7.4% to RM3.28 billion, aided by higher income from Islamic banking operations, net earned insurance premiums and foreign exchange profits. Net fund based income, meanwhile, increased 1.6% to RM8.39 billion, on the back of a 4.6% rise in gross loans.
In Singapore, we saw:
- Higher net income of S$572.5 million for the half year compared with S$495.6 million in the previous corresponding period.
- 24.7% rise in net fee based income, which was boosted by increases from treasury and wealth management services as well as a one-off property disposal gain.
- Net fund-based income also rose 11.1% Y-o-Y as lower funding costs led to an expansion in NIM as well as an improvement in loans.
- PBT came in 17.3% higher at S$176.7 million compared with S$150.6 million a year earlier.
More information on our results can be found here. |
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| HAPPENINGS |
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| Savings Promotions |
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Top up a minimum of S$30,000 fresh funds in online savings accounts iSAVvy Savings or iSAVvy Savings-i Account and be rewarded with up to 1.55% p.a. Exclusively for Maybank Premier clients, enjoy up to 1.65% p.a. on your Maybank Prestige Savings Account when you make a minimum deposit of S$30,000. |
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| Download the new Maybank TREATS SG app |
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Unlock and redeem instant rewards such as air miles with the Maybank TREATS SG app, a lifestyle and loyalty mobile app that offers exclusive benefits and privileges, as well as real-time notifications and flash deals. What's more, in partnership with Manchester United Football Club, Maybank cardmembers can play an in-app football game via "Maybank Football Fan" gamification element and top scorers stand a chance to win attractive prizes. Find out more here. |
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Winners of the 2018 FIFA World Cup Russia Lucky Draw |
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Three lucky Maybank Visa cardmembers won a travel package for two to watch a round of 16 match in Moscow in July 2018. The qualifying period of the draw was between 10 January to 10 March 2018. One of the winners, Ms Cindy Kong, said, "I was in disbelief at first when I received the news that I won the lucky draw. Watching Russia playing against Spain was a surreal experience and this was definitely the best part of the trip. Thank you Maybank Cards for the great experience. You have made my customer journey much more rewarding and enjoyable!" |
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| Newsflash |
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| Local incorporation of Maybank Singapore Limited |
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Malayan Banking Berhad, Singapore Branch (the Branch) is transferring part of its banking business in Singapore to Maybank Singapore Limited, our subsidiary incorporated in Singapore. The Branch is transferring its Community Financial Services business, namely the Retail (personal banking, privilege wealth, premier wealth), Private Wealth, Retail SME Banking and Commercial Banking business via a scheme of transfer under the Banking Act in November 2018. After the transfer, the Branch will continue to operate its Global Banking business, including Global Markets.
This is part of Maybank's overall strategy to increase its commitment and business presence in Singapore. Trusted since 1960, the incorporation of Maybank Singapore Limited will enable us to serve you better. Visit our website for more information.
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| PayNow Corporate for instant funds transfers |
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Launched on August 13, PayNow Corporate allows businesses to receive payments from other businesses and individuals instantly with just a Unique Entity Number (UEN) or a PayNow QR code. Businesses can also make payments via PayNow Corporate to other businesses using their UEN and to individuals using either their NRIC/FIN or mobile number. This will do away with the need to know the bank and account number when transferring funds.
To support the adoption of PayNow Corporate, Maybank has implemented the following:
- Fee waiver for all outgoing and incoming PayNow Corporate transactions until 31 December 2019;
- Launch of Scan and Pay function on our mobile banking app to support PayNow QR payments;
- Promoting PayNow through seminars for SME owners as well as the upcoming Maybank Global Corporate Responsibility Day fundraising carnival on 22 September 2018 where PayNow is one of the main payment modes; and
- In a first, our cloud accounting software partner Financio has also integrated dynamic PayNow QR Code unique into each invoice issued through their e-invoicing platform to facilitate real-time collections. This will in turn enhance the productivity of SME businesses in Singapore. Maybank’s SME customers have promotional access to Financio e-accounting service.
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| Maybank sets up a Wealth Management Academy |
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In an effort to further boost the professional development of Maybank's wealth managers, Maybank Group launched the Maybank Wealth Management Academy (WMA) to provide a practice-based curriculum for 1,200 employees who are based in Singapore and seven other markets. The regional wealth management curriculum is developed in partnership with the Wealth Management Institute (WMI) of Nanyang Technological University Singapore.
An official launch for the establishment of the Maybank WMA was held in Kuala Lumpur on on 25 June 2018, which saw Maybank Group Chief Human Capital Officer, Ms Nora Abdul Manaf and the Chief Executive Officer of WMI, Ms Foo Mee Har signing the partnership agreement on behalf of the two organisations.
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| AWARDS AND ACCOLADES |
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| Winning New Consumer Lending Product of the Year |
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Maybank's Community Financial Services Singapore clinched the award of "New Consumer Lending Product of the Year - Singapore" at Asian Banking & Finance Retail Banking Awards 2018 for its initiative of providing convenient cross-border financing solutions to Maybank Private and Maybank Premier clients across the region. Cross-border financing gives clients access to a credit line without the need to liquidate any assets in advance, thereby presenting high net-worth clients with global investment opportunities.
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| Community Engagement |
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| Maybank Happy Savers @ North East |
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Maybank launched the "Maybank Happy Savers  North East" programme with North East Community Development Council (CDC), a partnership to empower 150 lower-income families to embark on financial planning for the future.
Mayor of the North East District, Mr Desmond Choo and Deputy CEO of Maybank Singapore, Mr Allen Ng officiated the three-year comprehensive financial education programme at KidZania Singapore on 27 July 2018. Over 50 families were invited to the launch event where the parents attended a financial literacy talk, while the children participated in a Kids' Financial Literacy Race to learn the concept of smart spending through play. Over 100 Maybank staff volunteers also interacted with the families. |
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| Humanising Finance |
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| Financial Planning for Young Families |
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Start off on the right foot when you plan your family's wealth journey. We share three tips on how young families can draw up a simple financial plan in this month's issue of Humanising Finance. |
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3 Tips on Countering Online Frauds
It is better to be safe than sorry. Here are three precautions you can take to protect yourself against online frauds.
- Beware of phishing emails. Mouse over the hyperlink and if the website link does not resemble the actual company's website address, it is likely that the hyperlink is directing users to a fake website.
- If the email is from a bank, take note that although the bank may request for your personal particulars for verification of your identity for interactions via email or phone, the bank will not ask for your PIN or Password.
- To ensure the e-commerce website you are visiting is using security measures, look for an unbroken key or a lock in the status bar at the bottom of your browser window. The internet address on the location bar should have an "s" after the "http", e.g. "https://".
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