Maybank Group Profit Grows 6.2%.

Lending in Indonesia grew 7%. While in Malaysia, a decline in funding costs. Maybank Group recorded a net profit of first quarter 2015 amounted to RM1,70 billion, up 6.2% from the first quarter of the previous year at RM1,60 billion. The increase in profit was supported by an increase in revenue of compensation (fee income) is accompanied by credit growth that supports improved performance in all business pillars.

Until March 2015, profit before tax (PBT) for the quarter rose from RM2,21 billion last year to RM2,24 billion. While net operating income rose 12.5% ​​year-on-year (yoy) to RM4,99 billion of RM4,44 billion in March 2014. The acquisition is dominated by Global Banking (11.8%), Community Financial Services (10 %) and International Banking (6.6%).

Achievement of this performance is supported by an increase in revenue of compensation (fee based income) amounted to 19.9% ​​and 9.3% increase in fund-based income. The increase in income compensation (fee income) supported by rising commission income, service fee income and increased insurance premiums. Increased fund based income was also supported by loan growth of conventional and Islamic higher.

Credit in the first quarter increased by 14.3% yoy, led by international operations grew by 19.4%. In the three main home market, namely Malaysia, Singapore and Indonesia, loans grew respectively 10.2%, 11.6% and 7.1% yoy. While the Islamic financing rose 29.5% yoy.

Maybank chairman, Tan Sri Megat Zaharuddin Megat Mohd Nor said, this year, the focus of the group remains to find opportunities in diversified operations to improve productivity. "Considering the global market uncertainty continues, we have started the year full of hope, and the latest developments in our operations is our shut in Papua New Guinea as part of our strategy to meningkatkanvalue," he said in a statement in Jakarta, Thursday, May 28th 2015.

In the quarter, the group deposits increased 13.0% yoy, mainly contributed by Singapore which rose 17.1% and Malaysia which grew 7.9%. This supports the CASA ratio (Current account Saving account) group managed to total deposits at a steady rate of 35.4%. Loan to deposit ratio stood at 92.2%, an increase compared with 91% in March 2014.

This quarter's net interest margin fell 11 basis points (bps) to 2.26% compared to March 2014. The net interest margin was helped by a decline in funding costs in Malaysia.