Maybank Profit Soars To A Record RM6.27 Billion

Maybank today announced another year of record performance with its group profit before tax for the year ended June 30, 2011 rising 16.8 per cent to RM6.27 billion from RM5.37 billion previously. This was achieved on the back of exceptionally strong loans growth in all home markets of Malaysia, Singapore and Indonesia and better performance across all business segments, said chairman Tan Sri Megat Zaharuddin Megat Mohd Nor. In addition, the continued decline in allowance for losses on loans which fell by more than half contributed to the stronger bottom line, he said at a media briefing here today. Its revenue increased to RM21.04 billion from RM18.56 billion previously. The country's largest bank also recorded an after tax and minority interest profit of RM4.45 billion, up 16.6 per cent from RM3.82 billion the previous year.