While individual Malaysians and small businesses across the nation are struggling to adapt to a increasingly challenging economy, the country’s leading banking group has broken its own earning records: Maybanhas posted a net profit of RM6.55 billion for the financial year 2013, making it the bank’s best year ever.
Group president and CEO Datuk Abdul Farid Alias said Maybank’s net income rose 10.5 per cent to RM18.54 billion, well ahead of the group’s costs growth.
He said the bank had met its target of 15 per cent growth for return on earnings and, at 14 per cent growth, exceeded the 12 per cent taget for for group loans and deposit.
International operations grew 12.7 per cent pre-tax and contributed 30.3 per cent of Maybank’s RM8.87 billion pre-tax profits overall.
Maybank’s total group assets shot past RM560 billion.
The banking group’s board has proposed a final dividend of 31 sen per share.
Source: New Straits Times
