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Maybank Quarterly - March 2019 |
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| Maybank FY18 PBT up 8% to record RM10.9b on strong Q4 earnings |
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Maybank, Southeast Asia's fourth largest bank by assets, announced that it achieved a record profit before tax (PBT) of RM10.9 billion for the financial year ended 31 December 2018, up 8.0% from a year earlier boosted mainly by higher loans growth, lower overhead costs as well as lower provisioning.
Net profit for the year also marked a new record - surpassing the RM8 billion mark for the first time to reach RM8.11 billion or 7.9% higher Y-o-Y.
For the fourth quarter of FY18 (4QFY18), PBT came in 5.8% higher at RM3.1 billion from RM2.93 billion in the corresponding period a year earlier. Net profit, meanwhile, rose 9.1% to RM2.33 billion compared with RM2.13 billion in 4QFY17. Compared with the preceding quarter (i.e. 3QFY18), PBT and net profit for 4QFY18 was also significantly higher at 17.3% and 18.9% respectively.
In Singapore, we saw:
- FY18 PBT surged 33.6% to S$421.4 million from S$315.5 million a year ago, underpinned by a 9.7% increase in net income as well as lower impairment allowances
- Net fund based income rose 9.6% largely driven by net interest margin improvement and loan expansion
- Net fee based income grew 9.7% aided by higher fees from wealth management and treasury income
More information on our FY2019 results can be seen here. |
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| HAPPENINGS |
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| Lunar New Year at branches |
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| Maybank Singapore's Country CEO Dr. John Lee and staff greeted customers with a Lunar New Year carrier bag of mandarin oranges and red packets to share festive joy at Maybank Tower Branch on 1 February 2019. Customers visiting the other 19 branches also received similar festive bags. As part of our Lunar New Year giving efforts, Maybank partnered Movement for the Intellectually Disabled of Singapore (MINDS) to pack the festive bags, creating work opportunities for their clients. |
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| Grow your retirement funds with new Maybank Passion Plus Programme |
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The new Maybank Passion Plus Programme makes life more rewarding for customers aged 50 and above. It offers an array of specially curated financial products for eligible customers to grow their retirement funds, such as Endowment Plans, Retirement Plans, Structured Deposits and Unit Trusts. This group of customers gets to enjoy attractive rates on the Privilege Plus Savings and Singapore Dollar Privilege Plus Time Deposit accounts. Terms and conditions apply.
Furthermore, Maybank Passion Plus Programme customers are covered by free personal accident insurance coverage when a minimum account balance of S$30,000 is maintained in the Privilege Plus Savings account. Besides meeting customers' financial needs, Maybank will also be organising workshops, talks and other learning activities to promote healthy living and active ageing. Find out more at maybank.sg/passionplus. |
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| Take up the maze challenge at Century Square |
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Finding the right banking partner to journey with need not be like going through a complicated maze. And yes, banking can be fun too! Check out our latest ATM machine at Level 1 of Century Square (next to the carpark entrance) and challenge your friends to solve the maze. Tell us how fast you can crack it; upload your timing on Instagram page with @MaybankSG and #MaybankMaze hashtags. Stay calm and happy solving! |
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| Enjoy S$0 processing fee for Online Overseas Funds Transfers |
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Looking to transfer money overseas? From now till 31 December 2019, use Maybank Online Banking to transfer funds via online Telegraphic Transfer to any major foreign currency, or send money to Malaysia or the Philippines via RegionLink Online Funds Transfer at zero fee. |
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| Awards and Accolades |
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| Asian Private Banker Awards |
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| From left: Timothy Cheng (Head, Maybank Private Hong Kong) and Sebastian Enberg (Editor, Asian Private Banker) |
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Maybank Private was awarded "Best Private Bank - Growth Strategy of the Year" at the Asian Private Banker 8th annual Awards for Distinction Gala Dinner.
"This win is a testament to our strong belief to place clients first by understanding their needs and to provide solutions as well as opportunities to meet both their personal and business objectives in the region. Moving forward, Maybank Private will continue to leverage on Maybank Group's existing business relationships and network as our key competitive advantage," said Alvin Lee, Head of Group Wealth Management and Singapore Community Financial Services, Maybank. |
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| Community Engagement |
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| Giving back during Lunar New Year |
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On 20 January 2019, over 40 Maybank staff volunteered their time to spring clean the homes of 95 families in Tampines for Lunar New Year. Maybank volunteers also packed festive packs to distribute to the residents.
Organised by Young NTUC and North East Community Development Council, the event was graced by guest-of-honour Finance Minister, Mr Heng Swee Keat. Country CEO and CEO of Maybank Singapore, Dr John Lee, and Deputy CEO, Mr Allen Ng, were also present at the event to lend a helping hand.
Maybankers also planned a movie outing for 70 seniors from Lions Befrienders. The seniors were treated to a private lunch and screening of Channel 8 actor Mark Lee's new feature film "Make It Big Big". |
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| Humanising Finance |
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| Embracing Super Apps |
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Humanising Finance looks at the emerging trend of super mobile apps which are capable of hosting a suite of functions on a single app, enabling users to complete a few tasks at one go. Joining the ranks of intelligent apps is Maybank's TREATS SG app, tailored to suit the lifestyle needs of Cardmembers with reward redemption, eCoupon and food ordering service on one platform. |
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Deposit Insurance Scheme
Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$50,000 in aggregate per depositor per Scheme member by law. Monies and deposits denominated in Singapore dollars under the CPF Investment Scheme and CPF Retirement Sum Scheme are aggregated and separately insured up to S$50,000 for each depositor per Scheme member. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.
This advertisement has not been reviewed by the Monetary Authority of Singapore. All information is updated at 28 February 2019. |
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