Financial Results Presentation
Maybank Singapore: P&L Summary
37
SGD million
1H FY2019
1H FY2018
YOY
Net fund based income
383.01
371.08
3.2%
Net fee based income
161.76
201.39
(19.7%)
Net income
544.76
572.47
(4.8%)
Overhead expenses
(233.99)
(211.48)
10.6%
Operating profit
310.77
360.99
(13.9%)
Profit before taxation
17.15
176.63
(90.3%)
Net fund based income registered a 3.2% growth, driven by loans, investment and placement income, though offset by
higher interest costs.
Fee based income reduced 19.7% YoY. Maybank's fee income fell on lower treasury related fee. Comparatively, fee based
income was higher last year due to one-off property disposal gains.
Overhead expenses increased 10.6% arising from higher personnel and depreciation costs, partly mitigated by lower
information technology and establishment spend.
1H FY2019 profit before tax of SGD17.15 million was lower than the prior year, mainly due to higher impairment
allowances.
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