Maybank Performance Outlook FY2019
Maybank Singapore: P&L Summary
SGD million
FY2018
FY2017
YOY
Net fund based income
752.08
686.02
9.6%
Net fee based income
358.16
326.49
9.7%
Net income
1,110.25
1,012.51
9.7%
Overhead expenses
(434.97)
(387.86)
12.1%
Operating profit
675.28
624.65
8.1%
Profit before taxation
421.37
315.50
33.6%
Net fund-based income rose 9.6%, driven by loan expansion and improvement in net interest margin.
Fee-based income grew 9.7% YoY, led by an increase in treasury income. Contribution also came from wealth management,
on the back of higher bancassurance fee.
Overheads increased 12.1% arising from higher investment in staff and information technology. The local incorporation of
the Community Financial Services (CFS) business in Singapore also contributed to the higher spend in the year.
Operating profit was 8.1% higher YoY.
FY2018 profit before tax grew 33.6% YoY to SGD 421.4 million due to lower impairment allowances.
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