Malayan Banking Berhad Financial Analysis
Cost Increase on Higher Personnel and One-Off Expenses
CIR and Costs
Key Drivers
RM billion
46.9%
45.8%
49.4%
45.3%
46.4%
+0.4%
4Q'22 vs 3Q'22
+15.3%
+11.2% YoY
4Q'22 vs 4Q'21
12.81
11.52
.
Cost increase of 11.2% YoY mainly driven by:
3.39
3.41
2.57
2.95
2.36
0.67
0.67
0.63
0.43
0.64
0.23
0.23
2.06
1.92
0.15
0.55
0.51
0.47
1.95
2.04
6.81
7.50
1.69
4QFY2021
3QFY2022
4QFY2022
FY2021
FY2022
Administration & General Expenses
■Establishment Costs
Marketing Expenses
Personnel Costs
.
% change
4Q'22 vs 3Q'22
4Q'22 vs 4Q'21
FY2022 vs FY2021
Personnel
+4.5%
+20.3%
+10.2%
Establishment
(7.5)%
+7.9%
+7.2%
Marketing
+0.8%
54.2%
+56.0%
Administration
(5.4)%
(1.4)%
& General
+9.0%
。 +10.2% increase in personnel costs led by collective agreement
adjustments. Normalised personnel cost would be +8.7%
。 +56.0% increase in marketing expenses on higher giftpoints,
advertisement and publicity spend. Normalised marketing
expenses for one-off card giftpoints redemption would be +21.2%
。 +7.2% increase in establishment cost from higher IT costs due to
software maintenance, repair and maintenance of data processing
equipment as well as higher ROU assets depreciation
。 +9.0% increase in admin and general from credit card fees on
higher billings and merchant volume, software services
subscription and other general expenses
QoQ, cost increase was marginal at 0.4%, as increase in personnel
expenses by 4.5% was offset with lower IT expenses (-22.0%) and
professional fees
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