Maybank Earnings Summary Q3 & 9M FY2020
Maybank Singapore: P&L Summary
39
SGD million
9M FY2020 9M FY2019
YOY
3Q FY2020 2Q FY2020
QoQ
Net fund based income
429.63
576.88
(25.5)%
116.40
142.84
(18.5)%
Net fee based income
290.31
280.54
3.5%
100.38
85.48
17.4%
Net income
719.94
857.42
(16.0)%
216.78
228.32
(5.1)%
Overhead expenses
(348.25)
(351.12)
(0.8)%
(111.57)
(115.53)
(3.4)%
Operating profit
371.69
506.30
(26.6)%
105.21
112.78
(6.7)%
Profit/ (Loss) before taxation
103.36
(26.69)
(>100)%
17.54
8.52
> 100%
Net fund based income was 25.5% lower YoY, affected by contraction in loans and lower interest margins.
Net fee based income improved 3.5% YoY, supported by higher wealth management, credit related and other
non operating income, but mitigated by lower contribution from trade, treasury and cards related sources.
Overheads were relatively stable at SGD348.3 million, with less marketing spend on reduced promotional
activities and lower establishment costs due to rental rebates received.
9M FY2020 profit before taxation of SGD103.36 million improved from 9M FY2019's loss before taxation of
SGD26.69 million, due to lower loan loss allowances.
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