Maybank saw its net profit surge 43 per cent to RM2.36 billion in the last quarter, from RM1.65 billion in the same period the year before. Maybank is aiming for a 10-11 per cent growth in return on equity, as well as 6.0-7.0 per cent growth each in loans and deposits, said Farid. For the full-year, Maybank’s net profit eased 1.3 per cent to RM6.74 billion, from RM6.83 billion, partially bogged down by higher provisions while revenue was higher at RM44.65 billion, from RM40.55 billion previously. Nevertheless, he said its Indonesian operation had delivered its best ever results with a net profit of 1.9 trillion rupiah (RM634 million). Fee income, which grew by four per cent year-on-year to RM6.96 billion, contributed almost 30 per cent to group’s total net profit.

Source: New Strait Times February 24, 2017 06:56 UTC