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Maybank posts YOY fall in Q4'17 profit

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Maybank posts YOY fall in Q4'17 profit

Malayan Banking Bhd., also known as Maybank, posted a year-over-year decline in profit for the fourth quarter of 2017 as expenses, as well as taxation and zakat, increased.

The group posted 2017 fourth-quarter profit attributable to equity holders of 2.13 billion Malaysian ringgit, or 19.93 sen per share, down from 2.36 billion ringgit, or 23.19 sen per share, in the same period the prior year.

Net interest income rose to 3.02 billion ringgit from 2.91 billion ringgit, while income from Islamic banking scheme operations climbed to 1.24 billion ringgit from 1.17 billion ringgit. Net earned insurance premiums increased to 1.43 billion ringgit from 1.19 billion ringgit.

Total operating income for the quarter climbed to 7.29 billion ringgit from 6.64 billion ringgit, while net operating income inched up to 6.06 billion ringgit from 6.04 billion ringgit. Operating profit increased to 2.89 billion ringgit from 2.81 billion ringgit.

Net allowances for impairment losses on loans, advances, financing and other debts declined to 199.8 million ringgit from 615.7 million ringgit in the prior-year period.

Operating expenses increased to 2.92 billion ringgit from 2.61 billion ringgit, while taxation and zakat rose to 675.1 million ringgit from 422.9 million ringgit.

For the 2017 full year, the group posted a year-over-year rise in profit attributable to equity holders to 7.52 billion ringgit from 6.74 billion ringgit. EPS for the period climbed to 72.04 sen from 67.84 sen.

The group's net impaired loan ratio came to 1.58% as of Dec. 31, 2017, down from 1.60% at the end of 2016.

As of Dec. 31, 2017, the group's total capital ratio stood at 19.383%, up from 19.293% at Dec. 31, 2016. The group's common equity Tier 1 and Tier 1 ratios for the period came to 14.773% and 16.459%, respectively, up from 13.990% and 15.664%, respectively, at the end of 2016.

The company proposed a single-tier final dividend 32 sen per share for 2017, remaining the same from 2016. The final dividend, which is subject to shareholder approval, consists of a cash portion of 18 sen per share and an electable portion of 14 sen per share.

Including the group's interim dividend of 23 sen per share, the group's total dividend for 2017 came to 55 sen per share, up from 52 sen per share for 2016.

As of Feb. 27, US$1 was equivalent to 3.92 Malaysian ringgit.