Maybank Performance Outlook FY2019

Market Outlook FY2019 Industry outlook for our home markets Key Indicators Malaysia Industry Outlook • GDP: 4.9% (2019F) vs 4.7% (2018) • System loan: 5.1% (2019F) vs 5.6% (2018) • OPR: 3.25% (2019F) vs 3.25% (2018) • • USD/MYR average: 4.10 (2019F) vs 4.04 (2018) Inflation: 1.5% (2019F) vs 1.0% (2018) • Stable economic growth driven by growth in mining and agriculture sectors, private investments and positive net external demand • Potential deposit competition could place pressure on net interest margins (NIMS) • • • GDP: 1.8% (2019F) vs 3.2% (2018) System loan: 3.7% (2019F) vs 5.3% (2018) 3M SIBOR: 2.20% (2019F) vs 1.89% (2018) USD/SGD average: 1.35 (2019F) vs 1.36 (2018) Inflation: 1.2% (2019F) vs 0.4% (2018) • Economic growth could be affected by reduced pace of expansion in China and EU, and effects from the US-China trade war • Potentially slower loans growth arising from cautious business sentiment Rising rates could provide NIM upside Singapore • Indonesia • • GDP: 5.1% (2019F) vs 5.2% (2018) System loan: 10.5% (2019F) vs 11.8% (2018) • Reference Rate: 6.50% (2019F) vs 6.00% (2018) USD/IDR average: 14,301 (2019F) vs 14,267 (2018) Inflation average: 3.4% (2019F) vs 3.2% (2018) • Economic growth to be supported by consumption boosted by a minimum wage increase and stable inflation rate • Potentially lower domestic and foreign direct investments due to parliamentary and presidential election in 1H 2019 26 46 Maybank

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