Maybank posts RM7.84b net profit for 9M FY25, up 3.7% Y-o-Y

Maybank announced a net profit of RM7.84 billion for the nine months ended 30 September 2025, (9M FY25) up 3.7% compared to a year earlier. This was supported by steady net-fund based income performance, higher non-interest income (NoII) and prudent risk discipline across its regional network.

Net operating income rose 3.2% Y-o-Y to RM22.86 billion, supported by its net-fund based income increasing 1.6% Y-o-Y to RM14.90 billion and NoII which was up 6.3% to RM7.96 billion. Net Interest Margin (NIM) for the nine months was slightly down 1 bp to 2.03% compared to a year earlier. However, the Group has been able to improve the 3Q FY25 NIM to 2.02%, up 2 bps compared with 2Q FY25 from proactive liquidity and funding costs management.

The Group continued to exercise disciplined cost management during the period, with overhead expenses increasing by 3.8% Y-o-Y to RM11.18 billion. The increment however reflects the ongoing strategic investments to support long-term growth and inflationary related adjustments in personnel expenses, alongside increases in marketing cost, IT expenses and credit card related fees. Despite these planned expenditures, the Group maintained a stable cost-to-income ratio of 48.9% which also contributed to a 2.7% rise in pre-provisioning operating profit (PPOP) to RM11.68 billion.

Net impairment provisions for the nine months eased to RM1.25 billion, a 1.5% improvement Y-o-Y, following the conclusion of a corporate borrower's restructuring exercise and recoveries made for the non-retail portfolio. The Group's net credit charge-off rate improved to 11 bps from 26 bps in 9M FY24, on the back of lower loan provisions. Meanwhile, gross impaired loans ratio recorded a modest uptick to 1.32% from 1.26% while loan loss coverage remained healthy at 110.1%. Taken together, these metrics demonstrate that the Group's conservative provisioning provides a healthy cover against potential credit volatility while enabling continued support for customers.

Commenting on the results, President & Group CEO, Dato' Sri Khairussaleh Ramli said that Maybank delivered a steady performance for the quarter despite continued volatility and challenges in the global scene. The Group maintained a disciplined approach in managing liquidity, funding and credit risks, while continuing to serve customers across all segments. The sustained asset quality reflects the Group's prudent risk management, while its strong CASA growth and rebounding NIM underscored the positive traction of its deposit and funding strategy.

Dato' Sri Khairussaleh Ramli, President & Group Chief Executive Officer of Maybank

"As we conclude the final phases of M25+, our focus remains on cementing the structural improvements we have put in place - particularly in productivity, capital efficiency and customer experience. These fundamentals will provide a strong foundation as we transition into our next strategic cycle, where we will continue to build from a position of strength in Islamic and values-based banking, wealth management and trade; enhancing competitiveness to drive sustainable and inclusive growth, reinforcing our position as a purpose-driven regional financial services group."

Third quarter (Q-o-Q Performance)

In the third quarter, the Group delivered a PBT of RM3.51 billion, broadly maintained against the previous quarter, while net profit remained largely unchanged at RM2.62 billion Q-o-Q. Encouragingly, net-fund based income continued to improve, rising by 1.5% Q-o-Q to RM5.01 billion on the back of disciplined asset-liability management. Operating expenses were well-managed, declining by 3.5% Q-o-Q.

Third quarter (Y-o-Y Performance)

PBT rose 3.1% Y-o-Y, while net profit improved 3.3% Y-o-Y, reflecting steady bottom-line momentum. Underlying performance was supported by a 3.2% Y-o-Y increase in net operating income to RM7.46 billion, with net-fund based income and NoII contributing to the uplift by 2.5% and 4.8% respectively. PPOP meanwhile increased 2.8% Y-o-Y to RM3.81 billion.

Loans and Deposits

The Group's loan book grew 2.7% Y-o-Y to RM681.7 billion as at 30 September 2025, lead by Malaysia which increased 6.0% Y-o-Y to RM435.2 billion. Singapore loans meanwhile were up 1.5% Y-o-Y, while Indonesia was marginally down 0.5% Y-o-Y as Maybank Indonesia continued to rebalance its corporate lending portfolio. Group deposits also recorded a solid Y-o-Y growth, rising to RM739.1 billion from RM706.2 billion, supported primarily by continued strong growth in CASA balances. Total CASA improved to RM295.0 billion, marking a healthy Y-o-Y increase of 15.2%. Meanwhile, fixed deposits also saw a steady rise to RM358.9 billion, up 4.1% Y-o-Y, demonstrating resilience in deposit base amidst a competitive rate environment.

Capital & Liquidity Strength

For 9M FY25, Maybank maintained robust capital and liquidity positions with its CET1 capital ratio at 14.9%, while total capital ratio stood at 19.3%. The Group's liquidity coverage ratio remained stable at 141.2%, comfortably above the regulatory requirement of 100%.

Sustainability updates

Maybank has exceeded all four of its sustainability targets, recording strong progress in sustainable finance for 9M FY25, with a cumulative total of RM156.32 billion, well over its RM80.00 billion target in 2025. Under the second commitment, Maybank has improved the lives of 2.62 million across ASEAN, against the target of 2.00 million lives by 2025.

The Group has received an upgrade in its MSCI ESG Rating from AA to AAA, the highest rating, recognising its leading ESG performance, particularly with strong scores in the Environmental pillar and improvements in the Social pillar. Several notable accolades earned Maybank as the Best Sustainable Bank in Malaysia at the FinanceAsia Awards 2025, as well as being awarded the Net-Zero (Banking) and Wildlife Protection in Malaysia at the ESG Business Awards 2025.

Maybank had shown steady progress and remains on track with its net zero glidepath for Physical Emission Intensity (PEI) in key sectors as of 3Q FY25 as below.

Physical Emission Intensity (PEI)

• Palm Oil: PEI of 1.25 tCO2/tCPO compared to 1.47 tCO2/tCPO 1H FY23 and well ahead of 2030 target of 1.40
• Power: PEI improved to 348 kgCO2/MWh compared to 442 kgCO2/MWh 1H FY23 and is on track for 2030 target of 272
• Aluminium: PEI increased slightly to 3.39 tCO2/tAI, compared with 2.36 in FY23. The higher PEI is primarily attributed to emission proxies revision.
• Steel: PEI of 0.65 tCO2/tSteel remains under our 2030 limit of 0.97
• Commercial Real Estate: PEI improved to 77.4 kgCO2/m2, compared to 80.5 in FY23 and is on track for 56 kgCO2/m2
• Auto: PEI improved to 142 gCO2/vkm, well below 150 gCO2/vkm in FY23 and is trending toward the 2030 target of 94 gCO2/vkm.

M25+ progress

Super Growth drivers demonstrate good progress. Wealth fees increased by 23.5% Y-o-Y to RM1.07 billion, and Islamic Wealth investment AUM was up by 32.8% Y-o-Y to RM18.09 billion. With improved customer experience and go-to-market scale-up via stronger cross-sector collaboration, FX Sales income for Wealth and SME was up by 2.9% and 8.7% by volume to RM261.98 million and RM42.89 billion respectively. Loan growth in non-retail segments rose by 8.1%, 10.9% and 9.6% across Malaysia, Indonesia and Singapore respectively. A segment focused approach saw transaction banking CASA and client growth on M2E MY recording an increase of 31.4% and 14.7% respectively. For motor insurance, efforts were strategically focused on high-valued customer segments, as well as faster clearance of cases to help reduce cost, which resulted in Malaysia's motor surplus growing by 120.6% to RM112.30 million.

Sectoral Review

Group Community Financial Services (GCFS) reported stable net operating income at RM12.78 billion from RM12.72 billion a year earlier. This was supported by a solid 7.0% Y-o-Y increase in NoII to RM2.81 billion, which was partially offset by a 1.2% Y-o-Y reduction in net-fund based income due to the sharp decline in Singapore's SORA rate. Total loans expanded in all home markets of Indonesia, Malaysia and Singapore by 8.2%, 6.8% and 6.1% respectively Y-o-Y.

Wealth Management, a key focus segment for the GCFS, maintained its upward trajectory with total financial assets rising 13.6% to RM565.21 billion driven mainly from investments and loan growth. PBT for 9M FY25 meanwhile stood at RM3.57 billion, declining by 14.5% due to higher loan loss provisions as well as higher overheads.

Group Global Banking (GGB) recorded an 18.3% Y-o-Y increase in PBT to RM6.21 billion for the period ended September 2025. This was driven by strong income growth, lower net impairment losses, and a RM302.66 million contribution from the Investment Banking Group, supported by robust performances from the ECD and IB&A businesses.

Net operating income rose 8.3% Y-o-Y to RM9.08 billion, driven by growth in both net-fund based income up 11.7% to RM4.67 billion and NoII rising 4.9% to RM4.41 billion, led by stronger performances from Global Markets and Investment Banking. Net impairment provisions improved by two folds Y-o-Y, following the completion of a corporate borrower's restructuring exercise.

Loans in Malaysia grew 4.6% Y-o-Y, while GGB CASA expanded 28.7% Y-o-Y, driven by 18.7% growth in Malaysia and a notable 97.5% increase in Singapore. The Mid-Cap segment in Malaysia and Singapore achieved 4.4% Y-o-Y income growth, while Global Markets Malaysia FX Sales volume rose 12.4% Y-o-Y, reinforcing GGB's overall earnings momentum.

The Group's Islamic Banking business saw a rise in PBT by 9.3% Y-o-Y to RM3.25 billion in 9M FY25. This was on the back of solid increase in total income by 4.3% to RM6.68 billion. Within the business, Maybank Islamic's total gross financing for Malaysia grew 9.1% Y-o-Y to RM313.20 billion, contributed by steady growth in its CFS business by 9.6% and GB business by 7.6%. As of 30 September 2025, Islamic financing accounted 71.9% of Maybank Malaysia's total loans and financing. Maybank Islamic continued to lead in the market share of Islamic assets in Malaysia at 30.3%. Assets under management for Group Islamic Wealth Management increased by 21% Y-o-Y to RM102.14 billion in 9M FY25.

Etiqa Insurance & Takaful registered an underwriting income of RM840.55 million, 23.7% higher as compared to the previous year driven by Family Takaful portfolio. PBT, however, declined to RM941.17 million for 9M FY25 from RM1.01 billion in the previous year mainly due to softer equity market conditions and unfavourable impact from yield curve movements. Etiqa remained at the top position in the General Insurance and Takaful (Malaysia) segment with a 16.7% market share and fourth in the Life & Family (New Business) segment with an 11.6% market share.

Key Home Markets

Maybank Singapore recorded an increase in PBT which grew 6.3% to S$557.11 million with the surge in net-fund based income cushioning the impact of weaker NoII, higher overheads and lower write-back in impairment allowances. Net-fund based income rose by 18.2% Y-o-Y to S$582.35 million, on reduced funding cost as a result of proactive liquidity management, while NoII, dropped slightly to S$448.69 million from S$458.11 million in the previous year due to lower treasury income.

Maybank Indonesia delivered a strong performance for 9M FY25, with PATAMI surging 77.3% Y-o-Y to Rp989 billion, supported by higher operating income, effective cost management and a sharp decline in loan loss provisions. PBT also rose 53.9% Y-o-Y to Rp1,300 billion, underscoring the improving business fundamentals. Total income expanded 2.9% to Rp6,953 billion, driven by steady growth in net-fund based income, which edged up 0.8% to Rp5,373 billion, and a robust 10.7% increase in NoII to Rp1,579 billion, mainly from stronger Global Markets performance.