Maybank net profit up 4% to $803m in Q1

Net operating income also increased 1.8% to $2.39b.

Maybank reported a net profit of $803m (RM2.59b) for the first quarter ended 31 March 2025, up 4.0% year-on-year.

Net operating income increased 1.8% to $2.39b (RM7.71b), whilst profit before tax rose 4.4% to $1.11b (RM3.59b).

The bank’s net interest margin remained steady at 2.04%, supported by a 2.3% increase in net fund-based income to $1.53b (RM4.95b), driven by 3.2% loan growth. Annualized loan growth also slowed to 2.2%, reflecting cautious market conditions.
Non-interest income reached $856m (RM2.76b), or 35.8% of total income, helped by improved wealth management results.

Operating expenses rose slightly to $1.16b (RM3.74b) due to higher staff, marketing, and software costs.

Pre-provisioning operating profit increased 1.3% to $1.23b (RM3.97b). Return on equity improved to 11.3% from 11.1%.

Impairment provisions dropped 21.7% to $132m (RM426.4m), with loan provisions down 17.9% to $118m (RM380m). The net credit charge-off rate fell to 23 basis points from 28 basis points. Asset quality remained strong with a gross impaired loans ratio of 1.27% and loan loss coverage at 122.9%.

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