FY2023 M25+ Progress: Enhancing Digital Banking
Maybank Singapore: P&L Summary
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SGD million
Net fund based income
Non-interest income
Net income
Overhead expenses
Operating profit
Profit/ (Loss) before taxation
1Q FY2023
1Q FY2022
YOY
4Q FY2022
QoQ
204.35
173.82
17.6%
225.51
(9.4)%
69.83
82.16
(15.0)%
76.59
(8.8)%
274.18
255.98
7.1%
302.11
(9.2)%
(125.16)
(117.12)
6.9%
(138.52)
(9.6)%
149.02
138.86
7.3%
163.59
(8.9)%
231.22
114.00
>100.0%
129.24
78.9%
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Fund based income rose 17.6% YoY, driven by growth in total asset volume and improved net interest margin.
Non-interest income declined 15.0% YoY and 8.8% QoQ, attributed to slowdown in treasury income and wealth management income.
Overheads increased 6.9% YoY on higher staff costs and marketing expenses. However, it trended lower over the first quarter.
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1Q FY2023 profit before taxation of SGD231 million was more than double YoY and substantially higher QoQ, due to write-back of loan loss allowances
compared to the provision for loan loss allowances in 1Q FY2022 and preceding quarter.
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