Maybank today announced that Group profit after tax and minority interest (PATAMI) for the first quarter ended September 2011 in the current financial period ending December 2011, rose 25.1% to RM1.29 billion from RM1.03 billion in the previous corresponding period. Group profit before tax rose 25.3% to RM1.76 billion from RM1.40 billion previously.
The improved performance was driven mainly by double-digit growth in revenue from almost all business sectors. In addition, it was boosted by improvement in asset quality and better bad debts recovery mainly from the corporate banking, business banking and SME and Singapore operations.
Group loans continued to grow at a steady pace, expanding 17.6% on an annualised basis. Overseas loans surged 41.4% led by Singapore (41%) and Indonesia (26.6%). Loans at the Malaysian operations grew 7.2%. Within the Malaysian operations, Community Financial Services led loans growth with 9.4% while Global Wholesale Banking recorded 3.2%. Maybank Islamic continued to register solid financing growth with a rise of 24%.
Our Group achieved Return on Equity (ROE) of 15.8% which is higher than the 15.2% ROE recorded in financial year ended 30 June 2011, and on track towards achieving 16% target for Financial Period ending 31 December 2011.