Maybank 3Q net profit up 10.8% to RM1.14b

KUALA LUMPUR: MALAYAN BANKING BHD []
(Maybank) posted net profit of RM1.14 billion in the third quarter
ended March 31, 2011, up 10.8% from the RM1.03 billion a year ago.
It said on Thursday, May 12 that revenue increased by 12% to RM5.13
billion from RM4.58 billion. Earnings per share were 15.6 sen versus
14.56 sen a year ago.
For the nine-month period, its net profit of RM3.295 billion was
13.4% higher than the RM2.905 billion a year ago. Its revenue of
RM15.318 billion was 10.8% higher than the RM13.822 billion a year ago.
Maybank said the results were boosted by strong loans growth,
increased revenues across almost all business segments of the group and
significantly lower allowance for losses on loans which declined by
almost half.
Overall loans growth was 17.1%, led by the Indonesian operations
(+26.5%), Singapore Operations (+19.3%), other international operations
(+22.5%) and the Malaysian operations (+13.8%).
“Within Malaysia, Maybank Islamic led in financing growth with an
annualised increase of 31.9% followed by Global Wholesale Banking
(+17.7%) and Community Financial Services (+12%),” it said.
Maybank said the improved performance for the nine months were due to
a 7.6% increase in net interest income to RM5.36 billion despite a
narrowing of the net interest margin to 2.63% as at March 2011 compared
with 2.77% in March 2010.
“Higher non-interest income (including income from Islamic and
Insurance businesses) which rose 3.0%, led by higher fee income from
Islamic operations (+109.7%), investment & trading income (+65.8%),
commissions, service charges and fees (+7.3%) and foreign exchange
income from customers (+12.7%).
“Significant reduction in allowance for losses on loans which fell
49.8% to RM454.4 million from RM905.5 million previously,” it said.

Warrants	MAYBANK-CO	MAYBANK-CP
Warrants Reference Price	0.190	0.135
Warrants Last Done	0.185	0.000
Volume	800	0
Share Reference Price	8.770	8.770
Share Price	8.740	8.740
Exercise Price	7.700	8.500
Exercise Ratio (warrants per share)	6	7
Interest Rate(%)	2.9930	2.9930
Dividend Yield(%)	4.7197	4.7197
Expiration Date	28-Jul-2011	27-Jun-2011
Days to Expiry	77	46
Implied Volatility(%)	29.3620	68.2011
Gearing (X)	7.8739	9.2487
Effective Gearing (X)	6.6155	5.5179
Premium(%)	0.8009	8.0664

Warrants	MAYBANK-CQ
Warrants Reference Price	0.110
Warrants Last Done	0.000
Volume	0
Share Reference Price	8.770
Share Price	8.740
Exercise Price	8.500
Exercise Ratio (warrants per share)	10
Interest Rate(%)	2.9930
Dividend Yield(%)	4.7197
Expiration Date	18-Jan-2012
Days to Expiry	251
Implied Volatility(%)	37.1633
Gearing (X)	7.9455
Effective Gearing (X)	4.6268
Premium(%)	9.8398