analyst presentation 4q fy2014 - maybank.com€¦ · investor presentation financial results 4q...
TRANSCRIPT
0 www.maybank.com
Investor Presentation
Financial Results 4Q & Full Year FY2015 ended 31 December 2015
25 February 2016
Humanising Financial Services
1
Table of Contents
Financial Results: 4Q FY2015 & Full Year FY2015 ended 31 December 2015
Executive Summary 2
Results Overview 6
Prospects & Outlook 23
Appendix :
1. Financial Performance 28
2. Community Financial Services 44
3. Global Banking 49
4. Maybank Singapore 54
5. Maybank Indonesia 58
6. Other Segments 63
7. Affiliates 68
2
Overview Maybank Group revised FY2015 guidance at mid-year due to less certainty in economic outlook
12% - 13%
8% - 9%
6% - 7%
5% - 6%
10% - 13%
10% - 11%
ROE
Group Loans
Growth
Malaysia Loans
Growth
Singapore
Loans Growth
Indonesia
Loans Growth
Group Deposits
Growth
Maybank Group realigns FY2015 guidance
in 2H 2015 to focus on balance sheet
initiatives:
More selective asset growth
Franchise-led deposits taking
Proactive management of asset quality
Maintain strong capital position
Continued focus on productivity
13% - 14%
9% - 10%
8% - 9%
8% - 9%
13% - 15%
9% - 10%
Initial FY2015
Guidance
Revised FY2015
Guidance
Continued softness in commodity prices
Weakening MYR vs USD
Slowing economic growth in China
Prolonged softness in macroeconomic
indicators for 2015
3
Franchise-Led Growth
FY2015 Performance Update Full year revenue growth of 14.6% YoY to RM21.24 billion with net profit of RM6.84 billion
• Higher net fund based income of 15.3% YoY as:
o Group loans grew 12.0% led by retail franchise growth
o Stable net interest margin of 2.31%
• Net fee based income improved 13.2% YoY on:
o Higher net earned premiums, FX gains and Islamic operations fee income
• PPOP growth of 16.3% YoY to RM10.95 billion driven by strong income growth
2
• Group deposit growth of 12.8% YoY ahead of loan growth of 12.0% YoY
• Managed balance sheet growth improved Group LDR to 91.5% as at Dec 2015
• Group LCR of 148% as at end Dec 2015
Improved Liquidity
3
• CIR of 48.2% with positive JAW position as:
o Income growth of 14.6% YoY outpaced overheads growth of 12.9% YoY
Strategic Cost
Management
4
• Group GIL at 1.86% as at Dec 2015 Asset Quality 1
• Total capital ratio at 17.49%* and CET1 capital ratio at 12.53%* as at Dec 2015
• Attractive dividend yield of 6.4% with dividend per share of 54 sen Stable Capital Position
5
*After proposed dividend and assumption of 85% reinvestment rate. Fully loaded Group CET1 capital ratio is 11.95%
4
FY2015 Key Performance Indicators Review Full year achievements reflect Group’s proactive balance sheet management
Notes:
1Normalised to exclude the conversion effects for Singapore, Indonesia, Philippines, Greater China and Labuan (USD)
2In local currency terms
Key Performance Indicators FY2015
Guidance
Annualised FY2015 Achievement
1H FY2015 2H FY2015
Headline KPI
Return on Equity (reported) 12.0%-13.0% 12.1% 12.6% 12.2%
Other Guidance
Group Loans Growth (reported) 8.0%-9.0% 11.1% 12.2% 12.0%
Group Loans Growth (normalised)¹ 5.7%
• Malaysia 6.0%-7.0% 4.2% 6.2% 5.3%
• Singapore² 5.0%-6.0% 8.2% 3.7% 6.0%
• Indonesia² 10.0%-13.0% 3.8% 6.0% 5.0%
Group Deposits Growth (reported) 10.0%-11.0% 6.3% 18.7% 12.8%
Group Deposits Growth (normalised)¹ 7.0%
5 Financial Results: 4Q FY2015 & Full Year FY2015 ended 31 December 2015
Table of Contents
Executive Summary 2
Results Overview 6
Prospects & Outlook 23
Appendix :
1. Financial Performance 28
2. Community Financial Services 44
3. Global Banking 49
4. Maybank Singapore 54
5. Maybank Indonesia 58
6. Other Segments 63
7. Affiliates 68
6
Franchise-Led Growth FY2015 net profit of RM6.84 billion underpinned by strong income growth and better cost management
¹Pre-provisioning operating profit (PPOP) is equivalent to operating profit before impairment losses
* From consolidated Group numbers, Insurance and Takaful accounts for 6.0% of net fund based income and 12.0% of net fee-based income
More
details
on RM million FY2015 FY2014 YoY
s.8 Net fund based income * 14,545.0 12,616.0 15.3%
s.11 &
29 Net fee based income * 6,692.8 5,914.6 13.2%
s.7 Net operating income 21,237.9 18,530.6 14.6%
s.15 Overhead expenses (10,285.0) (9,111.3) 12.9%
Pre-provisioning operating profit(PPOP) ¹ 10,952.9 9,419.3 16.3%
Net impairment losses (2,012.6) (470.8) 327.5%
Operating profit 8,940.3 8,948.5 (0.1)%
Profit before taxation and zakat (PBT) 9,151.5 9,111.6 0.4%
Profit attributable to equity holders of the Bank (Net Profit) 6,835.9 6,716.5 1.8%
EPS - Basic (sen) 72.0 74.2 (2.9)%
7
18,531
7,515
2,382 1,691 1,515 100
5,677
1,679
21,238
8,180
2,478 1,788 1,500 110
6,487
1,646
Total CommunityFinancial Services
CorporateBanking
Global Markets InvestmentBanking
AssetManagement
InternationalBanking
Insurance andTakaful
FY2014
FY2015
+5.8%
Net Operating Income
Note: Net operating income for group includes expenditures of Head Office & Others of RM 952 million for FY2015 and RM2,029 million for FY2014.
RM
million
Global Banking (GB)
-2.0%
+14.6%
+8.9% +4.0% -1.0% +9.9% +14.3%
+3.3%
Franchise-Led Growth Higher net operating income of 14.6% YoY, supported by growth and stable performance in business pillars
8
12,616
5,794
1,572 727 167 3
4,032
941
14,545
6,258
1,790 833 230 -2
5,238
906
Total CommunityFinancial Services
CorporateBanking
Global Markets InvestmentBanking
AssetManagement
InternationalBanking
Insurance andTakaful
FY2014
FY2015
+14.7% +37.8% -167.1%
Global Banking (GB)
-3.7%
+15.3%
+8.0% +13.9% +29.9%
+15.5%
Note: Net fund based income includes expenditures of Head Office & Others of RM708.6 million for FY2015 and RM619.1 million for FY2014.
Franchise-Led Growth Higher net fund based income of 15.3% YoY, driven by International Banking and Community Financial Services
RM
million
Net Fund Based Income
9
270.0
306.2 327.2
Dec 13 Dec 14 Dec 15
225.0 245.3 258.6
136.8
165.2 201.2
Dec 13 Dec 14 Dec 15
Malaysia Overseas
459.8
410.5
Franchise-Led Growth Group loans grew 12.0% YoY on stronger international markets growth with managed credit RWA growth of 6.8% YoY
Group Gross Loans
RM
billion
308.7
352.9 373.3
Dec 13 Dec 14 Dec 15
Total Group RWA
RM
billion
Note: Refer to slide 31 for loans breakdown by markets and slide 32 for loans breakdown by line of business in Malaysia
361.8
+12.0% +5.8%
RM
billion
+6.8%
Group Credit RWA
+13.4% +13.4% +14.3%
10
84.1 92.4
Dec 14 Dec 15
14.8
20.2
Dec 14 Dec 15
168.8 182.7
Dec 14 Dec 15
Franchise-Led Growth Group gross loans growth supported by strength of Community Financial Services franchise in home markets
Malaysia Singapore Indonesia
+8.2%
RM
billion
SG
D b
illion
Rupia
h t
rillio
n
CFS Loan Growth
¹ Loan growth post transfer of SGD 2.2 billion from GB to CFS for Business Banking segment due to realignment to the Group Customer Segmentation. Normalised loan growth was 20.4%.
+36.6%¹ +9.9%
11
6,622
5,915
6,693
Net Fee Based Income
FY2013 FY2014 FY2015
11
Franchise-Led Growth Net fee based income grew 13.2% YoY, on higher net earned insurance premiums and other operating income
+13.2%
Higher net earned insurance premiums of RM251 million YoY to
RM4.20 billion
Increased other operating income of RM233 million YoY to
RM5.77 billion arising from higher:
Foreign exchange profits
Commission, service charges and fees
Other income
Stronger fee income from Islamic operations of RM149 million
YoY to RM508 million
1
2
3
Note: Refer to slide 29 for full P&L of net fee based income breakdown
RM
million
(10.7)%
12
Dec 13 Dec 14 Dec 15
+10.2%
Dec 13 Dec 14 Dec 15
395.6
439.6
495.8
Dec 13 Dec 14 Dec 15 Dec 13 Dec 14 Dec 15
Franchise-Led Growth Group deposit growth of 12.8% YoY on the back of strong franchise presence in home markets
Malaysia Singapore Indonesia
+5.0%
RM
billion
SG
D b
illion
Rupia
h t
rillio
n
Group Gross Deposits
RM
billion
+12.8%
Note: Refer to slide 33 for breakdown on types of deposit growth by home markets
278.3 292.2
259.1 39.6
43.6
34.0
102.8
115.9 107.5
+12.8% +11.1%
+7.4% +16.5% (4.4)%
13
Franchise-Led Growth & Improved Liquidity Lower Group LDR QoQ, on improved LDR performance in all home markets
91.8% 92.2% 94.2% 95.3% 91.5%*
35.3% 35.4% 34.9% 35.3% 33.7%
Dec 14 Mar 15 Jun 15 Sep 15 Dec 15
LDR CASA
Singapore Indonesia
Group Malaysia
89.5% 91.5% 90.8% 92.0% 91.0%*
39.9% 41.2% 39.6% 41.1% 37.1%
Dec 14 Mar 15 Jun 15 Sep 15 Dec 15
105.3% 104.5% 102.8% 101.7% 97.6%
38.7% 39.2% 39.7% 39.4% 36.0%
92.7% 91.9% 89.7% 90.0% 86.1%
Dec 14 Mar 15 Jun 15 Sep 15 Dec 15
LDR (Bank Level)
88.4% 89.1% 93.4% 95.3% 85.0%
24.9% 24.5% 24.6% 24.6% 21.2%
Dec 14 Mar 15 Jun 15 Sep 15 Dec 15
*Includes investment accounts totaling RM17.66 billion as at 31 Dec 2015, captured under Maybank Group’s management reporting figure for total deposits
14
Franchise-Led Growth Stable YoY NIM at 2.31%, on balanced loan and deposit growth strategy
2.20
2.26 2.28
2.38
2.29
4Q '14 1Q '15 2Q '15 3Q '15 4Q '15
2.53
2.48
2.43
2.31 2.31
CY2011 FY2012 FY2013 FY2014 FY2015
Net Interest Margin
YoY Trend
QoQ Trend
15
Strategic Cost Management Positive JAW position as overheads growth of 12.9% YoY was below income growth of 14.6% YoY
(RM’ mil) FY2015 FY2014 YoY
Personnel Costs 5,765.1 5,019.3 14.9%
IT Expenses 660.0 545.9 20.9%
Establishment Costs 1,061.1 1,040.4 2.0%
Marketing Expenses 607.3 589.4 3.0%
Administration & General Expenses 2,191.5 1,916.3 14.4%
Total 10,285.0 9,111.3 12.9%
Group overheads composition
% FY2015 FY2014 YoY
Total Cost to Income 48.2 48.9 (0.7)%
Group JAW Position 1.7 (2.1)
16
Strategic Cost Management Group CIR maintained below internal threshold of under 50% over the last five years
49.9
48.6
47.8
48.9
48.2
CY2011 FY2012 FY2013 FY2014 FY2015
Cost to Income Ratio
YoY Trend
<50.0%
17
0.95 0.99 0.97 1.13
1.04 1.06 1.15 1.14
1.38
1.48 1.52 1.50
1.65
1.52 1.50 1.56 1.54
1.86
Dec 13 Mar 14 Jun 14 Sep 14 Dec 14 Mar 15 Jun 15 Sep 15 Dec 15
Gross Impaired Loans Ratio (%)
Net Impaired Loans Ratio (%)
95.6% 93.5% 83.4% 85.4% 72.0%*
Loan loss coverage
(34.6)
248.0 300.9
667.9
466.7 400.4
1,683.6
4QFY2014
1QFY2015
2QFY2015
3QFY2015
4QFY2015
FY2014 FY2015
Allowances for losses on loans
Asset Quality Group GIL increased to 1.86% as at Dec 2015
Group Impaired Loans Ratio Allowance for losses on loans
*Loan loss coverage including Regulatory Reserve is 86.6%
(RM
million)
*Bursa Malaysia financial statements for 4Q and full year FY2015 reflects NIL ratio less
MIB Investment Accounts of RM17.66 bil
18
Asset Quality by Market Slight uptick in asset quality for Malaysia and Singapore
0.23 0.30 0.41 0.41 0.45
0.18 0.24 0.33 0.34 0.33
Dec 14 Mar 15 Jun 15 Sep 15 Dec 15
Gross Impaired Loans Ratio (%)
Net Impaired Loans Ratio (%)
3.24 3.49 4.50 4.54 4.15*
2.63 2.78 3.55 3.36 3.25*
Dec 14 Mar 15 Jun 15 Sep 15 Dec 15
1.85 1.75 1.62 1.63 1.76
1.25 1.23 1.18 1.25 1.36
Dec 14 Mar 15 Jun 15 Sep 15 Dec 15
Malaysia Singapore Indonesia
*Maybank Indonesia reported gross NPL (3.67%) and net NPL (2.42%) whereas the chart above represents Maybank Indonesia Group’s gross impaired loans ratio and net impaired loans
ratio
19
Asset Quality for Malaysia GIL ratios for consumer and business portfolios below industry, except for Business Banking
Mortgage Auto Finance Credit Cards
0.6% 0.5%
1.2%
Dec-14 Dec-15 Industry
0.5% 0.5%
1.0%
Dec-14 Dec-15 Industry
0.7% 0.8%
1.3%
Dec-14 Dec-15 Industry
Consumer
SME
2.4%
2.0%
2.4%
Dec-14 Dec-15 Industry
Business Business Banking
10.3% 10.0%
2.0%
Dec-14 Dec-15 Industry
Corporate Banking
1.4% 1.5%
2.0%
Dec-14 Dec-15 IndustryNote:
As at Dec 2015, Industry GIL for BB and Corporate Banking are proxy figures based on total industry GIL after deducting Consumer & SME GIL
20
12.78% 12.53% 12.46% 11.38%
14.47% 14.22% 14.15% 13.17%
17.74% 17.49% 17.42% 15.87%
Dec 15 Dec 15 Dec 15 Dec 14
Total Capital Ratio Tier 1 Capital Ratio CET 1 Capital Ratio
Group
Bank
Before
proposed
dividend
After proposed
dividend,
assuming 85%
reinvestment
rate
After proposed
dividend, based on
BNM’s
Implementation
Guideline *
15.78% 15.43% 15.33% 15.76%
17.97% 17.62% 17.52% 15.76%
Dec 15 Dec 15 Dec 15 Dec 14
Tier 1 and Total Capital Ratio CET1 Capital Ratio
Note:
• Based on 85% reinvestment rate under the DRP, the fully loaded CET1 Ratio would be at 11.95% (Group) and 10.62% (Bank) respectively.
* Capital ratios are computed based on BNM’s implementation Guidelines on Capital Adequacy Framework (Capital Components) issued on 8th May 2013.
** Adjusted based on acceptance rate of 82.55% under 10th DRP.
After proposed
dividend &
reinvestment **
Stable Capital Position Total capital ratio at 17.49% (assuming 85% dividend reinvestment rate) and CET1 at 12.53%
21
61.0%
76.5% 74.9%
79.9% 74.7% 71.9%
78.5% 76.3%
11
28 32 22.5
24 24
8
44
32
36
33
31 33 30
FY09 FY10 FY11 FP11 FY12 FY13 FY14 FY15
Final
Interim
Dividend Total dividend of 54 sen per share for FY2015, with a stable dividend yield of 6.4%
* Reinvestment rate for the Dividend Reinvestment Plan
# The Net Dividend is 28.5 sen of which 15 sen is single-tier dividend.
Gross Dividend (sen) and Payout Ratio (%)
85.9%*
85.7%*
88.2%* 85.9%*
88.5%* 91.1%*
86.1%*
88.6%*
#
82.6%*
8.0
55.0
60.0
36.0
65.0
53.5 57.0
84.0%*
Dividend Payout Ratio
N.A.*
54.0
87.5%*
22 Financial Results: 4Q FY2015 & Full Year FY2015 ended 31 December 2015
Table of Contents
Executive Summary 2
Results Overview 6
Prospects & Outlook 23
Appendix :
1. Financial Performance 28
2. Community Financial Services 44
3. Global Banking 49
4. Maybank Singapore 54
5. Maybank Indonesia 58
6. Other Segments 63
7. Affiliates 68
23
Market Outlook 2016 outlook for our home markets
Key Indicators Outlook
Singapore
Malaysia
Indonesia
• GDP (f) 4.3% (2015: 5.0%)
• System loan (f) 6.5%
• OPR(f) 3.00%-3.25% (2015: 3.25%)
• USD/MYR (f) 4.10 (2015: 4.39)
• Inflation (f) 3.0-3.5% (2015: 2.1%)
• GDP (f) 2.0% (2015: 2.1%)
• System loan (f) 2%-3%
• System deposit (f) 5%
• 3M SIBOR (f) 2.44% (2015: 1.1%)
• USD/SGD (f) 1.48 (2015: 1.42)
• Inflation (f) 0.5% (2015: -0.5%)
• GDP(f) 5.2% (2015: 4.79%)
• System loan (f): 12.8%
• System deposit (f): 11.5
• Reference Rate (f) 7.00% (2015: 7.50%)
• USD/IDR average (f) 14208 (2015: 13458)
• Inflation average (f) 4.56% (2015: 6.38%)
• Government infrastructure spending to drive Indonesia’s
economic growth in 2016
• Increased funding following domestic economy recovery
• Rate cut by 50 bps to 7.00% will help increase demand
for credit, which in turn will stimulate Indonesia’s
economic growth
• Loan growth expected to remain muted due to slower
regional and domestic economic growth
• Asset quality may continue to rise as credit cycle turns
and if weakness in oil & gas sector persists
• Stable to modest improvement in NIMs
• Capital and liquidity buffers to remain healthy
• Slowdown in household loan growth to 6.1% (2015: 7.7%)
and moderation in non-household to 7% (2015: 8%)
• Competition for deposits to remain keen
• Credit cost uptick on growing NPLs
• Cost and capital management will remain key priorities
24
Maybank Group Guidance for FY2016
ROE
Group Loans
Growth
Malaysia Loans
Growth
Singapore Loans
Growth
Indonesia Loans
Growth Group Deposits
Growth
11% - 12%
8% - 9%
6% - 7%
3% - 4%
11% -13% 10% - 11%
• Remain focused on selective asset growth in line with capital position
• Manage liquidity effectively through high-quality liquid assets
• Improve productivity and manage discretionary spend
• Downside risks include further global macroeconomic headwinds
• Credit cost expected to remain elevated
25
Maybank’s 5-Year Strategic Objectives ended FY2015 Delivering the Vision
Undisputed No. 1 Retail
Financial Service provider in
Malaysia by 2015
Leading ASEAN wholesale bank,
eventually expanding further
into the Middle East, China and
India
Undisputed Insurance & Takaful
leader in Malaysia & emerging
regional player
1 2 3
Market leader for General
Insurance & Takaful Business in
Malaysia.
Outside of Malaysia, we have
established a presence in
Singapore and the Philippines.
Maintained our domestic market
share leadership for corporate
lending, non-retail deposits and
trade finance.
Top four position for regional
league tables on Investment
Banking & Advisory, Debt Capital
Market and M&A deals.
CFS Malaysia records PBT of RM3.8
billion in 2015.
Market share leader in Unit Trust,
Total Deposits, Retail CASA and
Internet Banking (subscriber base).
Aspirational target was to be
achieved through inorganic growth.
International PBT for FY2015 was
under 30% due to lack of attractive
M&A opportunities.
Our complete ASEAN footprint
positions us to capture trade,
capital, investment and wealth
flows in Asia.
Truly regional organisation, with
˜40% of pre-tax profit derived
from international operations
by 2015
4
Global leader in Islamic Finance
Leading Islamic bank in ASEAN
and Malaysia and one of the
top 5 largest Islamic banks
globally.
Maintained top 5 position on
the Bloomberg Global Sukuk
League and top 3 position on
the Ringgit Sukuk League
tables.
5
26
Maybank 2020 Vision Advancing Asia’s Ambitions With You
The Top ASEAN Community Bank
The Leading ASEAN Wholesale Bank Linking Asia
The Leading ASEAN Insurer
The Global Leader in Islamic Finance
Digital Bank of Choice
1
2
3
4
5
Strategic Objectives
• With a presence in all ASEAN countries, our strategy remains ASEAN-centric
• Combined ASEAN population of 660 million, with opportunities to serve under-banked population
• AEC offers trade and capital raising opportunities within ASEAN and between ASEAN and other parts of Asia
27 Financial Results: 4Q FY2015 & Full Year FY2015 ended 31 December 2015
Table of Contents
Executive Summary 2
Results Overview 6
Prospects & Outlook 23
Appendix :
1. Financial Performance 28
2. Community Financial Services 44
3. Global Banking 49
4. Maybank Singapore 54
5. Maybank Indonesia 58
6. Other Segments 63
7. Affiliates 68
28
Unaudited Income Statement for Insurance and Takaful Business: FY2015
RM million FY2015 FY2014 YoY
Interest income 929.5 969.8 (4.2)%
Interest expense (34.2) (28.7) 19.3%
Net interest income 895.3 941.1 (4.9)%
Net earned premiums 4,196.7 3,946.1 6.4%
Other operating income 327.9 721.6 (54.6)%
Total operating income 5,419.8 5,608.8 (3.4)%
Net insurance benefits & claims incurred, net fee &
commission expenses and life & takaful fund tax (3,903.5) (4,029.3) (3.1)%
Net operating income 1,516.3 1,579.5 (4.0)%
Overhead expenses (547.7) (615.4) (11.1)%
PPOP 968.7 964.1 0.5%
Net impairment losses (329.7) (172.0) 91.7%
Operating profit 639.0 792.1 (19.4)%
RM million FY2015 FY2014 YoY
Net insurance benefits & claims incurred, net fee &
commission expenses and life & takaful fund tax (3,903.5) (4,029.3) (3.1)%
Less: intercompany elimination 119.1 98.5 20.9%
Total net insurance benefits & claims incurred, net
fee & commission expenses and life & takaful fund tax (3,784.4) (3,930.8) (3.7)%
Reconciliation of net insurance benefits & claims incurred, net fee & commission expenses and life & takaful fund tax
29
5,915 5,540
359
3,946
(3,931)
6,693
5,773
508
4,197
(3,784)
Total Other operating income Fee Income from IslamicOperations
Net Earned InsurancePremiums
Net Insurance Benefits &Claims Incurred, Net Fee &Commission Expenses andLife & Takaful Fund Tax
FY2014
FY2015
RM
million
RM million FY2015 FY2014 YoY
Commission, service charges and fees 3,821 3,711 3.0%
Investment & Trading Income 842 1,012 (16.8)%
Unrealised gain/ (losses) on securities & derivatives (507) (57) 783.6%
Foreign Exchange Profit 1,071 588 82.3%
Other Income 545 287 89.6%
+41.5% +6.4% -3.7%
+13.2% +4.2%
Net Fee Based Income: FY2015
30
64.2%
16.7%
13.0%
6.0%
RM21.2 bil
63.9%
16.6%
12.1%
7.4%
RM18.5 bil
73.0%
15.8%
3.7% 7.5%
Malaysia Singapore Indonesia Others
RM9.2bil 56.4%
25.5%
7.9%
10.2%
RM459.8 bil
International & Malaysia Portfolio Mix FY2015
Overseas:
43.6%
FY 2014
Net Income Profit Before Tax
FY 2015
Overseas:
35.8% Overseas:
27.0%
Gross loans*
* Including Islamic loans sold to Cagamas and excludes unwinding of interest & EIR adjustment
¹ Excluding provisions made for two large corporate accounts, BMI’s normalised FY2014 PBT was IDR1,690 billion
71.2%
14.4%
3.0%
11.4%
RM9.1bil
59.7% 23.3%
7.6%
9.4%
RM 410.5 bil
Overseas:
40.3%
Overseas:
36.1%
Overseas:
28.8% (Pre-BMI Adjustment)
30.3% (Post-BMI Adjustment)¹
31
¹ Including Islamic loans sold to Cagamas and excludes unwinding of interest
²Takes into account others portion - Dec 15: -RM13 million vs Dec 14: RM7 million
³ 31 Dec 2015 loan growth was after transfer of SGD 2.2 billion from GB to CFS for Business Banking segment due to realignment to the Group Customer Segmentation
% of Portfolio 31 Dec 2015 31 Dec 2014 YoY
Group Gross Loans¹ 459.8 410.5 12.0%
Malaysia (RM billion) ² 56% 256.5 243.6 5.3%
Community Financial Services 71% 182.7 168.8 8.2%
Global Banking 29% 73.8 74.8 (1.4)%
International (RM billion) 43% 196.2 162.4 20.8%
Singapore (SGD billion) 57% 37.2 35.1 6.0%
Community Financial Services (reported) ³ 54% 20.2 14.8 36.6%
Global Banking (reported) ³ 45% 16.8 20.1 (16.2)%
Others 1% 0.2 0.3 (16.0)%
Indonesia (Rupiah trillion) 18% 114.8 109.3 5.0%
Community Financial Services 81% 92.4 84.1 9.9%
Global Banking 19% 22.0 24.9 (11.9)%
Others 0% 0.4 0.3 26.2%
Other markets (RM billion) 24% 47.4 38.8 22.2%
Philippines 11% 5.3 3.8 38.7%
Indo China 6% 2.7 1.7 61.2%
Greater China 37% 17.4 16.0 9.1%
Others 46% 22.0 17.3 26.9%
Investment banking (RM billion) 1% 7.1 4.4 60.7%
Group Gross Loans Growth: 31 Dec 2015
32
RM billion % of Portfolio 31 Dec 2015 31 Dec 2014 YoY
Community Financial Services 71% 182.7 168.8 8.2%
Consumer 80% 146.9 135.7 8.2%
Total Mortgage 47% 69.2 60.9 13.7%
Auto Finance 28% 40.8 38.6 5.7%
Credit Cards 4% 6.4 5.8 9.6%
Unit Trust 19% 28.1 28.3 (0.6)%
Other Retail Loans 2% 2.4 2.1 12.5%
Business Banking + SME 20% 35.8 33.1 8.4%
Business Banking + SME (Re-based¹) 20% 35.8 31.9 12.3%
SME 28% 10.2 7.5 35.9%
Business Banking 72% 25.6 25.5 0.2%
Global Banking (Corporate) 29% 73.8 74.8 (1.4)%
Total Malaysia² 256.5 243.6 5.3%
Malaysia Loans Growth: 31 Dec 2015
¹ Re-based loan growth figure was based on adjusted 31 Dec 2014 position in line with migration of client accounts, implemented on 1 Jan 2015.
² Including Islamic loans sold to Cagamas and excludes unwinding of interest and takes into accounts others portion – Dec 15: -RM 13 million vs Dec 14: RM7 million
33
% of Portfolio 31 Dec 2015 31 Dec 2014 YoY
Group Gross Deposits 495.8 439.6 12.8%
Malaysia (RM billion) 59% 292.2 278.3 5.0%
Savings Deposits 14% 40.0 38.5 4.0%
Current Accounts 25% 74.2 72.8 1.9%
Fixed Deposits 56% 163.0 140.8 15.8%
Others 5% 15.0 26.2 (42.9)%
International 41% 205.1 162.9 25.9%
Singapore (SGD billion) 65% 43.6 39.6 10.2%
Savings Deposits 10% 4.3 4.5 (5.8)%
Current Accounts 11% 5.0 5.3 (6.2)%
Fixed Deposits 77% 33.6 29.0 16.0%
Others 2% 0.8 0.8 (0.1)%
Indonesia (Rupiah trillion) 18% 115.9 102.8¹ 12.8%
Savings Deposits 22% 25.6 23.5 9.1%
Current Accounts 14% 16.2 16.3 (1.2)%
Fixed Deposits 64% 74.2 62.4 18.8%
¹ Includes Others of Rupiah 0.6 trillion
Group Gross Deposits Growth: 31 Dec 2015
34
Key Operating Ratios: FY2015
(%) FY 2015 FY 2014 YoY FY 2013 FY 2012
Return on Equity 12.2 13.8 (1.6)% 15.1 16.0
Net Interest Margin 2.31 2.31 0 bps 2.43 2.48
Fee to Income Ratio 31.5 31.9 (0.4)% 35.7 34.4
Loans-to-Deposit Ratio 91.5 91.8 (0.3)% 89.9 89.8
Cost to Income Ratio¹ 48.2 48.9 (0.7)% 47.8 48.6
Asset Quality
Gross Impaired Loans Ratio 1.86 1.52 34 bps 1.48 1.78
Net Impaired Loans Ratio 1.38 1.04 34 bps 0.95 1.09
Loans Loss Coverage 72.0 95.6 (23.6)% 107.5 105.6
Net Charge off rate (bps) (41) (11) 30 bps (23) (23)
Capital Adequacy (Group)²
CET1 Capital Ratio 12.53 11.38 115 bps 11.02 10.22
Total Capital Ratio 17.49 15.87 162 bps 15.43 15.85
¹ Total cost excludes amortisation of intangibles for BII and Kim Eng
² The capital ratios for FY2012 are adjusted for dividend payment and reinvestment made under the Dividend Reinvestment Plan (DRP) and capital ratios for
FY2013 and FY2015 are on the assumption of 85% reinvestment rate under the DRP. Capital ratios for FY2014 adjusted based on acceptance rate of 82.55%
under 10th DRP.
35
P&L Summary: QoQ
¹Fee-based income is the combined value of other operating income and fee-based income from Islamic Banking operations
²Pre-provisioning operating profit (PPOP) is equivalent to operating profit before impairment losses
RM million 1Q
FY2015
2Q
FY2015
3Q
FY2015
4Q
FY2015 QoQ
4Q
FY2014 YoY
Net fund based income 3,415.4 3,543.3 3,812.9 3,773.5 (1.0)% 3,137.5 20.3%
Net fee based income 1,572.1 1,345.1 1,934.3 1,841.2 (4.8)% 1,941.0 (5.1)%
Fee based income and net earned
insurance premiums 2,669.9 2,349.6 2,542.6 2,915.1 14.6% 2,684.1 8.6%
Fee based income¹ 1,682.9 1,299.3 1,534.1 1,764.3 15.0% 1,657.2 6.5%
Net earned insurance premiums 987.1 1,050.3 1,008.5 1,150.7 14.1% 1,026.9 12.1%
Net insurance benefits & claims incurred,
net fee & commission expenses and life &
takaful fund tax
(1,097.8) (1,004.5) (608.3) (1,073.9) 76.5% (743.1) 44.5%
Net operating income 4,987.5 4,888.4 5,747.2 5,614.8 (2.3)% 5,078.5 10.6%
Overhead expenses (2,489.3) (2,418.6) (2,601.4) (2,775.7) 6.7% (2,572.9) 7.9%
Pre-provisioning operating profit
(PPOP) ² 2,498.2 2,469.8 3,145.8 2,839.1 (9.8)% 2,505.6 13.3%
Net impairment losses (298.6) (395.0) (797.1) (521.9) (34.5)% (119.5) 336.9%
Operating profit 2,199.6 2,074.8 2,348.7 2,317.1 (1.3)% 2,386.1 (2.9)%
Profit before taxation and zakat (PBT) 2,242.0 2,150.5 2,382.9 2,376.1 (0.3)% 2,431.0 (2.3)%
Profit attributable to equity holders of
the Bank (Net Profit) 1,700.4 1,584.5 1,898.9 1,652.1 (13.0)% 1,931.2 (14.5)%
EPS - Basic (sen) 18.3 16.8 19.9 17.1 (14.3)% 20.8 (17.7)%
36
Unaudited Income Statement for Insurance and Takaful Business: QoQ
RM million 1Q
FY2015
2Q
FY2015
3Q
FY2015
4Q
FY2015 QoQ
4Q
FY2014 YoY
Interest income 236.5 234.4 221.2 237.4 7.3% 246.1 (3.5)%
Interest expense (8.4) (8.5) (8.6) (8.6) 0.0% (8.6) 0.0%
Net interest income 228.1 225.9 212.5 228.8 7.6% 237.5 (3.7)%
Net earned premiums 987.1 1,050.3 1,008.5 1,150.7 14.1% 1,026.9 12.1%
Other operating income 189.0 130.1 (177.1) 185.8 (205.0)% 107.0 73.8%
Total operating income 1,404.1 1,406.3 1,044.0 1,565.4 49.9% 1,371.4 14.2%
Net insurance benefits & claims incurred, net fee &
commission expenses and life & takaful fund tax (1,124.8) (1,028.9) (634.2) (1,115.5) 75.9% (769.0) 45.1%
Net operating income 279.3 377.4 409.8 449.8 9.8% 602.4 (25.3)%
Overhead expenses (171.5) (123.0) (131.9) (121.2) (8.1)% (161.7) (25.0)%
PPOP 107.8 254.4 277.9 328.6 18.3% 440.7 (25.4)%
Net impairment losses (58.0) (116.6) (133.4) (21.6) (83.8)% (157.8) (86.3)%
Operating profit 49.8 137.7 144.5 307.0 112.5% 282.8 8.5%
RM million 1Q
FY2015
2Q
FY2015
3Q
FY2015
4Q
FY2015 QoQ
4Q
FY2014 YoY
Net insurance benefits & claims incurred, net fee &
commission expenses and life & takaful fund tax (1,124.8) (1,028.9) (634.2) (1,115.5) 75.9% (769.0) 45.1%
Less: intercompany elimination 27.0 24.4 25.9 41.7 60.5% 25.8 61.3%
Total net insurance benefits & claims incurred,
net fee & commission expenses and life & takaful
fund tax
(1,097.8) (1,004.5) (608.3) (1,073.9) 76.5% (743.1) 44.5%
Reconciliation of net insurance benefits & claims incurred, net fee & commission expenses and life & takaful fund tax
37
+6.4% +14.1%
1,572 1,561
122
987
(1,098)
1,345 1,195
104
1,050
(1,005)
1,934
1,366
169
1,009
(608)
1,841
1,651
113
1,151
(1,074)
Total Other operating income Fee Income from IslamicOperations
Net Earned InsurancePremiums
Net Insurance Benefits &Claims Incurred, Net Fee &Commission Expenses andLife & Takaful Fund Tax
1Q FY2015
2Q FY2015
3Q FY2015
4Q FY2015
RM
million
RM million 1Q
FY2015
2Q
FY2015 3Q
FY2015
4Q
FY2015 QoQ
Commission, service charges and fees 937 946 868 1,069 23.1%
Investment & Trading Income 238 233 265 106 (59.9)%
Unrealised gain/ (losses) on securities & derivatives (91) (176) (489) 249 (151.0)%
Foreign Exchange Profit 423 84 608 (44) (107.2)%
Other Income 54 108 113 270 139.4%
Net Fee Based Income: QoQ
-14.4% +43.8% -23.4% +14.2%
-15.0% +62.2% -4.0% -8.5% -39.4%
-4.8% +20.9%
-32.9% +76.5%
38
Overheads: QoQ
(RM’ mil) 1Q
FY2015
2Q
FY2015
3Q
FY2015
4Q
FY2015 QoQ
4Q
FY2014 YoY
Personnel Costs 1,419.3 1,373.4 1,385.8 1,586.7 14.5% 1,351.8 17.4%
IT Expenses 99.4 117.4 230.4 212.8 (7.6)% 169.4 25.6%
Establishment Costs 279.0 242.1 243.1 297.0 22.2% 280.1 6.0%
Marketing Expenses 171.3 183.4 141.3 111.3 (21.3)% 177.5 (37.3)%
Administration & General Expenses 520.3 502.4 600.8 568.0 (5.5)% 594.1 (4.4)%
Total 2,489.3 2,418.6 2,601.4 2,775.7 6.7% 2,572.9 7.9%
Group overheads composition
39
Group Gross Loans: QoQ
¹ Including Islamic loans sold to Cagamas and excludes unwinding of interest
²Takes into account others portion - Dec 15: -RM 13 million; Sep 15: RM0; Jun 15: RM15 million; Mar 15: RM7 million
³ Loan figure post transfer of SGD 2.2 billion from GB to CFS for Business Banking segment due to realignment to the Group Customer
Segmentation
31 Mar 2015 30 Jun 2015 30 Sep 2015 31 Dec 2015 QoQ
Group Gross Loans¹ 419.0 433.3 465.3 459.8 (1.2)%
Malaysia (RM billion) ² 245.9 248.8 255.3 256.5 0.5%
Community Financial Services 171.8 175.3 179.1 182.7 2.0%
Global Banking 74.1 73.4 76.1 73.8 (3.1)%
International (RM billion) 167.0 178.7 204.4 196.2 (4.0)%
Singapore (SGD billion) 35.0 36.6 38.1 37.2 (2.3)%
Community Financial Services (reported) 17.7 19.1 19.9 20.2 1.7%
Community Financial Services (normalised) 15.5³ 16.8³ 17.4³ 17.8³ 2.2%
Global Banking (reported) 17.0 17.2 18.0 16.8 (6.5)%
Global Banking (normalised) 19.2³ 19.4³ 20.3³ 19.1³ (5.9)%
Others 0.3 0.3 0.3 0.2 (18.5)%
Indonesia (Rupiah trillion) 110.7 111.4 114.2 114.8 0.6%
Community Financial Services 85.6 89.0 89.9 92.4 2.8%
Global Banking 24.7 22.2 23.9 22.0 (8.1)%
Others 0.4 0.3 0.3 0.4 24.9%
Other markets (RM billion) 41.3 44.6 52.3 47.4 (9.3)%
Philippines 4.1 4.4 5.2 5.3 1.4%
Indo China 1.7 1.9 2.5 2.7 7.0%
Greater China 16.6 17.4 20.2 17.4 (13.7)%
Others 18.9 20.9 24.3 22.0 (9.7)%
Investment banking (RM billion) 6.1 5.8 5.6 7.1 26.3%
40
RM billion 31 Mar 2015 30 Jun 2015 30 Sep 2015 31 Dec 2015 QoQ
Community Financial Services 171.8 175.3 179.1 182.7 2.0%
Consumer 138.9 141.4 144.0 146.9 2.0%
Total Mortgage 62.8 65.1 67.1 69.2 3.2%
Auto Finance 39.7 40.4 40.8 40.8 (0.1)%
Credit Cards 6.0 6.0 6.0 6.4 6.0%
Unit Trust 28.3 27.7 27.8 28.1 1.1%
Other Retail Loans 2.1 2.3 2.3 2.4 3.8%
Business Banking + SME 33.0 33.9 35.1 35.8 2.1%
SME 7.9 8.9 9.6 10.2 6.7%
Business Banking 25.1 25.1 25.5 25.6 0.3%
Global Banking (Corporate) 74.1 73.4 76.1 73.8 (3.1)%
Total Malaysia¹ 245.9 248.8 255.3 256.5 0.5%
Malaysia Gross Loans: QoQ
¹ Including Islamic loans sold to Cagamas and excludes unwinding of interest and takes into accounts others portion – Dec 15: - RM 13 million; Sep 15: RM 0;
Jun 15: RM 15 million; Mar 15: RM 7 million
41
Group Gross Deposit: QoQ
31 Mar 2015 30 Jun 2015 30 Sep 2015 31 Dec 2015 QoQ
Group Gross Deposits 447.1 453.5 481.0 495.8 3.1%
Malaysia (RM billion) 278.6 285.4 286.9 292.2 1.9%
Savings Deposits 39.7 40.3 40.3 40.0 (0.8)%
Current Accounts 74.9 72.5 77.5 74.2 (4.4)%
Fixed Deposits 143.6 155.2 154.1 163.0 5.8%
Others 20.3 17.4 14.9 15.0 0.8%
International 170.0 169.6 195.5 205.1 4.9%
Singapore (SGD billion) 39.2 39.0 39.8 43.6 9.6%
Savings Deposits 4.3 4.5 4.4 4.3 (2.6)%
Current Accounts 5.3 5.1 5.4 5.0 (7.8)%
Fixed Deposits 28.7 28.9 29.4 33.6 14.5%
Others 0.9 0.5 0.7 0.8 13.9%
Indonesia (Rupiah trillion) 104.7 106.9 110.4 115.9 5.0%
Savings Deposits 23.7 24.0 25.2 25.6 1.4%
Current Accounts 17.3 18.4 18.3 16.2 (11.5)%
Fixed Deposits 63.7 64.5 66.9 74.2 10.9%
42
Key Operating Ratios: QoQ
(%) 1Q
FY2015
2Q
FY2015
3Q
FY2015
4Q
FY2015
Variance
QoQ
4Q
FY2014
Variance
YoY
Return on Equity 12.8 11.7 13.6 11.8 (1.8)% 15.9 (4.1)%
Net Interest Margin 2.26 2.28 2.38 2.29 (9) bps 2.20 9 bps
Fee to Income Ratio 31.5 27.5 33.7 32.8 (0.9)% 38.2 (5.4)%
Loans-to-Deposit Ratio 92.2 94.2 95.3 91.5 (3.8)% 91.8 (0.3)%
Cost to Income Ratio1 49.7 49.2 45.1 49.3 4.2% 50.4 (1.1)%
Asset Quality
Gross Impaired Loans Ratio 1.50 1.56 1.54 1.86 32 bps 1.52 34 bps
Net Impaired Loans Ratio 1.06 1.15 1.14 1.38 24 bps 1.04 34 bps
Loans Loss Coverage 93.5 83.4 85.4 72.0 (13.4)% 95.6 (23.6)%
Net Charge off rate (bps) (24) (29) (65) (45) 20 bps 5 (50) bps
Capital Adequacy (Group)²
CET1 Capital Ratio 11.15 11.48 11.273 12.53 126 bps 11.384 115 bps
Total Capital Ratio 15.35 15.54 15.103 17.49 239 bps 15.874 162 bps
¹ Total cost excludes amortisation of intangibles for BII and Kim Eng.
² 1Q FY2015 and 4Q FY2015 capital ratios are adjusted based on the assumption of 85% reinvestment rate under DRP of the respective proposed dividend. 2Q FY2015
capital ratios are based on 80% reinvestment rate. 3 Adjusted based on acceptance rate of 87.46%. 4 Adjusted based on acceptance rate of 82.55%
43 Financial Results: 4Q FY2015 & Full Year FY2015 ended 31 December 2015
Table of Contents
Executive Summary 2
Results Overview 6
Prospects & Outlook 23
Appendix :
1. Financial Performance 28
2. Community Financial Services 44
3. Global Banking 49
4. Maybank Singapore 54
5. Maybank Indonesia 58
6. Other Segments 63
7. Affiliates 68
44
Community Financial Services: Market Share as at Dec 2015
^ Annualised market share as BNM industry data is yet to be published.
* Refers to housing and shophouse loans
** Credit Cards market share refers to Receivables for commercial banks
^
^
Loans
Total Consumer / Household 17.2% 17.4% 17.4% 17.4% 17.5% 17.5% 0.0 2
Auto (Purchase of Transport Vehicles) 21.5% 23.0% 23.4% 23.6% 23.7% 23.7% 0.0 2
Total Mortgage* 13.1% 13.1% 13.1% 13.2% 13.3% 13.4% 0.0 2
Credit Cards** 15.7% 16.1% 16.6% 16.9% 17.1% 17.5% 0.0 2
Unit Trust 55.8% 52.7% 51.7% 51.4% 51.7% 51.6% 0.0 1
Deposits
Total Deposits 18.5% 19.0% 18.6% 18.8% 18.0% 17.4% 0.0 1
Total Core Retail Deposits 19.0% 19.4% 19.3% 19.4% 19.6% 20.2% 0.0 2
Retail CASA 24.8% 24.8% 25.3% 25.3% 25.7% 25.6% 0.0 1
- Retail Savings 29.8% 29.9% 30.1% 30.8% 30.8% 30.8% 0.0 1
Retail Fixed Deposits (FD) 15.7% 16.5% 16.1% 16.2% 16.4% 17.4% 0.0 2
Internet Banking -Subscriber Base 45.1% 43.4% 43.3% 43.2% 42.8% 43.1% 0.0 1
Mobile Banking -Subscriber Base 34.3% 32.0% 30.7% 29.5% 29.1% 29.8% 0.0 1
Branch Network 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 0.0 1
Dec-13
Dec-14
Sep-15
vs
Dec-15
Market Share Dec-13
Market Share Jun-15
Sep-15
Sep-15
Dec-15
Market
PositionDec-14
Sep-15
vs
Dec-15
Market
PositionMar-15
Mar-15
Jun-15
Dec-15
45
Community Financial Services: Overview of Malaysia Loans Portfolio
106.4 107.4 106.2 105.6 104.0
3.12 3.15
3.18 3.19 3.20
3
3.5
80.0
100.0
120.0
4Q 2014 1Q 2015 2Q 2015 3Q 2015 4Q 2015
TFA RM'b Product per customer
150.4 153.5
157.4 161.1
169.6
6.65 6.70
7.09 7.12 7.20
6.00
6.50
7.00
7.50
8.00
120.0
170.0
4Q 2014 1Q 2015 2Q 2015 3Q 2015 4Q 2015
TFA RM'b Product per customer
33.1 33.0
33.9
35.1 35.8
4Q 2014 1Q 2015 2Q 2015 3Q 2015 4Q 2015
SME & BB Loans grew by 8.4% YoY to RM35.8 billion
HNW & Affluent Customer TFA grew 12.8% YoY through
improved product cross sell
Consumer Loans grew 8.2% YoY to RM146.9 billion
31.9*
Mass Customer cross sell ratio improved to 3.20
135.7
138.9
141.4
144.0
146.9
130.0
132.0
134.0
136.0
138.0
140.0
142.0
144.0
146.0
148.0
4Q 2014 1Q 2015 2Q 2015 3Q 2015 4Q 2015
2.2 Re-based Mass to HNW & Affluent
2.3
*Re-based loan growth figures are based on adjusted 31 Dec 2014 position in line with migration of client accounts to Global Banking
**Customer classification: HNW (IA>RM3m, TFA >RM4m); Affluent (IA between RM 250K to RM3m, TFA between RM1m to < RM4m)
***TFA: Total Financial Assets (Deposits, Investments, Financing & Protection), IA: Investable Assets (Deposits & Investments)
RM
billion
RM
billion
6.2
46
186.6
190.0 192.4
198.8
206.3
4Q 2014 1Q 2015 2Q 2015 3Q 2015 4Q 2015
Community Financial Services: Overview of Malaysia Deposits Portfolio
69.7
70.6
71.0
74.9
77.9
4Q 2014 1Q 2015 2Q 2015 3Q 2015 4Q 2015
116.9
119.4
121.5
123.9
128.2
110.0
115.0
120.0
125.0
130.0
4Q 2014 1Q 2015 2Q 2015 3Q 2015 4Q 2015
Consumer deposits grew by 9.7% YoY, mainly led
by fixed deposit growth of 14.1% while CASA
grew by 4.5%. As a result, market share for
Retail Deposits improved to 20.2% as at
December 2015.
Retail SME deposit growth of RM7.3 billion or
14.4% YoY was led by strong growth in fixed deposits of 29.6%.
Retail SME & Business Banking deposits grew 11.8% YoY
Consumer Deposits grew 9.7% YoY contributed by growth
in FD at 14.1% and CASA at 4.5%
CFS Deposits grew 10.5% YoY led by Consumer and SME
portfolios
186.1*
69.2*
Note: *Re-based deposit growth figures are based on adjusted 31 Dec 2014 position in line with migration of client accounts to Global Banking.
RM
billion
RM
billion
RM
billion
47
Community Financial Services: Overview of CFS Malaysia Asset Quality
2,803
2,585 2,458
2,580
2,752
8.5% 7.9% 7.3% 7.4%
7.7%
2.4% 2.3% 2.1% 2.1% 2.0% 0.0% 2,000
2,500
3,000
4Q 2014 1Q 2015 2Q 2015 3Q 2015 4Q 2015
GIL RM'm GIL % for SME & BB GIL % for SME
3,457 3,334
3,109 3,285 3,422
2.0% 1.9%
1.9% 1.8% 1.9%
1.00% -
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
4Q 2014 1Q 2015 2Q 2015 3Q 2015 4Q 2015GIL RM'm GIL %
CFS GIL remained stable at 1.9%
SME & Business Banking GIL at 7.7%
Stable consumer GIL while Business Banking GIL saw slight
increase
GIL ratio for consumer financing portfolios held
steady on a YoY and QoQ basis.
SME and Business Banking GIL increased slightly
QoQ to 7.7% due to Business Banking.
Business Banking GIL inched up in the last quarter
due to one account in the property and
construction related industry.
GIL % Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015Industry
Q4 2015
CFS 2.0 1.9 1.8 1.8 1.9 N/A
Consumer 0.5 0.5 0.5 0.5 0.5 1.1
Auto 0.5 0.5 0.5 0.5 0.5 1.0
Mortgage 0.6 0.6 0.6 0.6 0.5 1.2
Credit Cards 0.7 0.8 0.7 0.9 0.8 1.3
Unit Trust Loan 0.1 0.4 0.1 0.1 0.1 0.1
Business Banking & SME 8.5 7.9 7.3 7.4 7.7 N/A
Business Banking 10.3 9.6 9.1 9.4 10.0 2.0
SME 2.4 2.3 2.1 2.1 2.0 2.4
48 Financial Results: 4Q FY2015 & Full Year FY2015 ended 31 December 2015
Table of Contents
Executive Summary 2
Results Overview 6
Prospects & Outlook 23
Appendix :
1. Financial Performance 28
2. Community Financial Services 44
3. Global Banking 49
4. Maybank Singapore 54
5. Maybank Indonesia 58
6. Other Segments 63
7. Affiliates 68
49
2.3
37.5
35.0
2.1
39.6
34.4
1.9
39.4
32.5
Dec'15 Sep'15 Dec'14
Trade Finance and Others
Overdraft
Corporate Banking GIL ratio at 1.48% as at Dec 2015
Total GB loans declined by 1.4% YoY from RM74.8 billion
to RM73.8 billion
+5.2%
YoY
-19.1%
YoY
RM billion
1 Market share of total trade products (On Balance Sheet items, Contingent
Liabilities and Others)
-7.2%
YoY
1.43% 1.31% 1.27%
1.18%
1.48%
Dec 14 Mar 15 Jun 15 Sep 15 Dec 15
Term Loan
Global Banking: Overview of Corporate Banking Portfolio
Trade Finance market share ¹
25.8%
24.6%
24.9%
25.3% 25.0%
Dec 14 Mar 15 Jun 15 Sep 15 Dec 15
50
46.1%
23.8%
21.6%
0.8%
0.9%
6.8%
RM 17.7
billion
Commercial
Papers
SA (Govt.
Guaranteed)
AAA
AA
A
<A
1,395.8 1,371.7
1,212.5 1,405.0
FY2014 FY2015
Net interest income Non-interest income
+6.5%
2,608.3 2,776.7
2,186.9
2,234.6
FY2014 FY2015
+2.2%
52.8% 25.7%
18.7%
0.2%
0.8%
1.7%
SA (Govt.
Guaranteed) AAA
AA
A Commercial
Papers
<A
Global Banking: Overview of Global Markets Portfolio
Group Securities Portfolio:
40.6% Foreign Securities as at Dec 2015
RM 19.9
billion
50.9 48.0 47.6 51.7 53.9
44.5 45.5 46.6 48.9 47.6
9.2 10.3 14.6 11.6 10.3
Dec 14 Mar 15 Jun 15 Sep 15 Dec 15
Govt. Securities PDS/Corp Bonds Others
Group Securities Portfolio grew 6.9% YoY
111.8 108.8 112.2 103.8
Global Markets revenue grew 6.5% YoY
Revenue
RM
million
Note: Revenue & PBT includes regional performance
45.4% of GM PDS (Maybank Conventional Malaysia)
are rated “AA” and above as at Dec 2015
RM
billion
FY2015
+6.9%
24.6%
23.6% 25.6%
17.0%
9.2%
RM 111.9
billion
Government
Securities
- Domestic
Government
Securities
- Foreign
PDS/Corp
Bonds
- Domestic
PDS –
Foreign
Others
(NIDs, BA, etc)
28.0%
20.7% 26.0%
16.5%
8.8%
Government
Securities
- Domestic
Government
Securities
- Foreign
PDS –
Foreign
Others
(NIDs, BA, etc)
PDS/Corp
Bonds
-Domestic
RM 104.7
billion
FY2014
Note:
Group PDS (Maybank Malaysia) for FY2014 and FY2015 are RM23.4 billion and RM24.7
billion respectively
104.6
FY2015 FY2014
RM
million
Profit before Tax
51
Malaysia 29%
Singapore 33%
Thailand 23%
Indonesia 1%
Phillipines 4%
Hong Kong 6%
Others 4%
Arrangers' Fees 30%
Brokerage 47%
Other Fee Income
7%
Agency/ Guarantee Fees
3%
Advisory Fees 5%
Placement Fees 4%
Primary Subscriber's Fees
0%
Underwriting Fees 4%
* Ranking is not disclosed in respective exchanges
Global Banking: Overview of Investment Banking Portfolio
Country Rank Market Share Trading Value
(USD m)
Thailand 1 8.7% 51,892
Malaysia 4 9.0% 25,539
Indonesia 10 3.4% 7,423
Philippines 2 10.0% 9,684
Singapore N/A* 4.3% 16,402
Hong Kong Tier2 0.8% 57,089
Vietnam N/A 2.9% 1,707
FY2015 Total Income (RM’Mil)
YTD Dec 2015 Equity Brokerage League Table by Country FY2015 Fee-based Income for Malaysia
Note: Maybank Kim Eng represents the combined business of Maybank IB and business
segments under Maybank Kim Eng Holdings
16,250
14,286
14,113
13,859
13,527
10,904
10,726
9,444
7,774
6,394
6.5%
5.7%
5.6%
5.5%
5.4%
4.4%
4.3%
3.8%
3.1%
2.6%
CIMB
Citi
Maybank
HSBC
DBS
BoA ML
RHB
Standard Chartered
OCBC
JP Morgan
Investment Banking & Advisory
Source: Dealogic
Regio
nal
Deal
Valu
e (
USD
’mil)
RM1,500.3 mil
52
Global Banking: Top 10 Notable Deals for FY2015
MYR 6.4 billion
March 2015
Malaysia
Sime Darby Bhd
New Britain Palm Oil
Advisor
MYR 3 billion
Dec 2015
Malaysia
Hong Leong Financial
Group
Rights Issue
Joint Underwriter
MYR 1.3 billion
March 2015
Malaysia Airport Holdings
Bhd
Turkey
Rights Issue
Joint Principal Advisor
Joint Managing Underwriter
Joint Underwriter
March 2015
Singapore
Frasers Centrepoint
Limited
SGD 700 million
Perpetual Capital
Securities
Joint Global Coordinator
Joint Lead Manager
Joint Bookrunner
THB 5.2 billion
March 2015
Thailand
Platinum Group
Initial Public Offering
Sole Financial Adviser
Sole Bookrunner
Joint Underwriter
May 2015
Malaysia
Malakoff Corporation
Bhd
Up to MYR 1.5 billion
Initial Public Offering
Transaction Manager
Joint Principal Advisor
Joint Global Coordinator
Joint Bookrunner
Joint Underwriter
Joint Managing Underwriter
June 2015
Malaysia
CapitaMalls Malaysia Trust
MYR 316 million
M-REIT Offering
Joint Placement Agent
Primary Placement
June 2015
UAE
DIB Sukuk Limited
USD 750 million
Senior Unsecured Sukuk
Trust Certificate
Joint Lead Manager
USD 1 billion
June 2015
Hong Kong
Hong Kong 2015 Sukuk
Limited (Govt of Hong
Kong)
Islamic Trust Certificates
Co-Manager
USD 500 million
Oct 2014
Indonesia
June 2015
Garuda Global Sukuk Limited
Islamic Trust Certificates
Joint Lead Manager
Joint Bookrunner
53 Financial Results: 4Q FY2015 & Full Year FY2015 ended 31 December 2015
Table of Contents
Executive Summary 2
Results Overview 6
Prospects & Outlook 23
Appendix :
1. Financial Performance 28
2. Community Financial Services 44
3. Global Banking 49
4. Maybank Singapore 54
5. Maybank Indonesia 58
6. Other Segments 63
7. Affiliates 68
54
Maybank Singapore: P&L Summary
(SGD mil) FY2015 FY2014 YoY
Net Fund Based income 580.31 511.74 13.4%
Net Fee Based income 249.97 283.08 (11.7)%
Net income 830.28 794.82 4.5%
Overhead expenses (350.89) (339.74) 3.3%
Operating profit 479.39 455.08 5.3%
Profit before taxation 400.63 432.73 (7.4)%
• Lower PBT of 7.4% YoY or SGD32.1 million to SGD400.63 million for FY2015
• Fund-based income increased by 13.4% YoY on the back of expanded loan base and improved
margins.
• Fee-based income declined by 11.7% YoY due to lower treasury and wealth management
income, although credit-related fees increased.
• Overhead expenses increased by 3.3% YoY mainly arising from higher human capital and IT
investments.
55
Maybank Singapore: Overview of Loans Portfolio
0.28 0.26 0.24 0.31
0.42 0.44 0.48
0.22 0.20 0.20 0.25
0.35 0.36 0.35
Jun-14 Sep-14 Dec-14 Mar-15 Jun-15 Sep-15 Dec-15
GIL Ratio NIL Ratio
8.5 8.9
4.2 3.9
4.4 3.6
5.6 6.0
7.5 9.6
2.1 1.8 2.6 3.4
Dec 14 Dec 15
Other(Consumer)
Car Loan
Housing Loan
Others(Corporate)
Non-Bankfinancial Inst
GeneralCommerce
Building &Const
Asset Quality at 0.48% as at Dec 2015 Maybank Singapore loans grew 6.0% YoY while industry
loan growth remained flat
Diversified Loan Portfolio
35.0 37.2
Consumer
40%
Corporate
60%
SG
D b
illion
As at 31 December 2015, total loans rose by 6.0%
to SGD37.2 billion.
Consumer loans expanded by 21.2% to SGD14.8
billion, supported by growth in both housing and
other personal loans. Car loans continued to
decline in line with the industry trend.
Meanwhile, business loans contracted by 2.2% to
SGD22.3 billion. Building and Construction loans
grew by 3.8% but trade finance declined due to a
slowdown in regional trade flows and lower
commodity prices.
18.8% 21.3%
13.4% 11.6%
9.9% 10.5%
6.0%
16.5% 14.0%
9.3% 6.7%
3.4% 4.2% 0.05%
Jun 14 Sep 14 Dec 14 Mar 15 Jun 15 Sep 15 Dec 15
Maybank Singapore Growth Industry Growth
+6.0% YoY
56
Maybank Singapore: Overview of Deposits Portfolio
4.8 4.4
12.1 15.3
5.1 4.8
17.6 19.0
Dec-14 Dec-15
Consumer -Time Deposits
Consumer CASA
Business TimeDeposits
Business CASA
Maybank Singapore deposits grew by 10.2% YoY,
outpacing the 4.6% rise in system-wide deposits
+10.2% YoY
39.6 43.6
Consumer
55%
Corporate
45% 4.5 4.3
5.3 5.0
29.7 34.3
Dec-14 Dec-15
Time Deposits
DemandDeposits
Savings
CASA Ratio:
21.3%
Time deposits expanded by 15.3% YoY but CASA was
lower by 6.0%
3.3%
7.3%
16.5% 17.0%
11.5% 10.8% 10.2%
5.0%
4.4% 7.0% 8.0%
6.4% 9.2%
4.6%
Jun 14 Sep 14 Dec 14 Mar 15 Jun-15 Sep-15 Dec-15
Maybank Singapore Growth Industry Growth
Deposits grew by 10.2% YoY to SGD43.6 billion.
Business deposits increased 16.9% to SGD19.8
billion, supported by a 26.6% increase in time
deposits.
Similarly, consumer deposits also grew 4.9% YoY
to SGD23.8 billion on the back of a 7.6% increase
in time deposits.
Consumer deposits account for 55% of our deposits
SG
D b
illion
SG
D b
illion
57 Financial Results: 4Q FY2015 & Full Year FY2015 ended 31 December 2015
Table of Contents
Executive Summary 2
Results Overview 6
Prospects & Outlook 23
Appendix :
1. Financial Performance 28
2. Community Financial Services 44
3. Global Banking 49
4. Maybank Singapore 54
5. Maybank Indonesia 58
6. Other Segments 63
7. Affiliates 68
58
(IDR bil) FY2015 FY2014 YoY 4Q FY2015 3Q FY2015 QoQ
Net Fund Based income 6,488 5,932 9.4% 1,704 1,696 0.5%
Net Fee Based income 2,728 1,938 40.8% 1,124 523 114.8%
Net income 9,217 7,870 17.1% 2,828 2,219 27.4%
Overhead expenses (5,361) (4,988) 7.5% (1,251) (1,343) (6.9)%
Personnel (2,331) (2,143) 8.8% (484) (617) (21.6)%
General & Administrative (3,023) (2,842) 6.4% (807) (730) 10.5%
Other Operating Expenses (7) (4) 97.0% 40 4 969.8%
Operating profit 3,856 2,881 33.8% 1,577 876 80.1%
Provisions Expenses (2,296) (1,789) 28.3% (737) (607) 21.4%
Non Operating Income/ Expenses (15) (119) 87.7% (79) (9) 775.5%
Profit Before Tax before Minority Interest 1,545 973 58.8% 761 259 193.6%
Net Profit 1,139 708 60.9% 547 204 168.0%
EPS - Basic (IDR) 16.81 11.59 45.0% 8.07 3.01 168.1%
Maybank Indonesia: P&L Summary
59
30.9 24.0 21.5
35.3 40.8 45.9
35.8 41.5 45.2
Dec-13 Dec-14 Dec-15
Global Banking Business Banking Retail Banking
17.7 16.3 16.2
24.7 23.5 25.6
64.9 62.7 73.7
Dec-13 Dec-14 Dec-15
Current Account Saving Account Time Deposit
Net Interest Margin (Consolidated)
Asset Quality (Consolidated)
Loans composition (Consolidated) IDR Trillion
Deposits (Consolidated) IDR Trillion
112.5 106.3
6% YoY
102.0
115.5 102.5
13% YoY
107.2
4.94% 4.76% 4.84%
Dec-13 Dec-14 Dec-15
Net Interest Margin
2.85% 3.34%
3.83%
2.24% 2.44% 2.59%
Dec-13 Dec-14 Dec-15
Impaired Loans - Gross Impaired Loans - Net
Maybank Indonesia: Portfolio Overview
0.08% YoY
60
Asset Quality
Revenue and Profit Before Tax IDR billion
Maybank Indonesia: Overview of Maybank Finance Operations
Consumer Financing IDR billion
18.5% 7.4%
Unit Financing (unit)
1.5%
20.3%
3.0%
53.0%
61
Consumer Financing IDR billion
19.6%
32.2%
5.0% Asset Quality
Revenue and Profit Before Tax IDR billion
Unit Financing (‘000 unit)
11.3%
15.3%
Maybank Indonesia: Overview of WOM Finance Operations
62 Financial Results: 4Q FY2015 & Full Year FY2015 ended 31 December 2015
Table of Contents
Executive Summary 2
Results Overview 6
Prospects & Outlook 23
Appendix :
1. Financial Performance 28
2. Community Financial Services 44
3. Global Banking 49
4. Maybank Singapore 54
5. Maybank Indonesia 58
6. Other Segments 63
7. Affiliates 68
63
27.6
24.5 25.9
4.7
10.7
15.1
30.8 32.1
30.3
5.3
13.1
19.6
AITAB Mortgage Term Financing Others (CFS) Term Financing Others (GB)
Dec 14
Dec 15
698
953
1,190
1,393 1,558
1,638
FY10 FY11 FY12 FY13 FY14 FY15
Maybank Islamic's Profit Before Tax (RM mil)
Islamic Banking: Performance Overview
Group Islamic Banking Financial Performance
Source: Islamic Banking Scheme (“IBS”) disclosure in Group Financial Statement
RM million FY2015 FY2014 YoY
Total Income 3,938.6 3,271.2 20.4%
Financing & Advances 132,318.4 109,639.6 20.7%
Deposits and Investment
Account 123,736.2 99,996.9 23.7%
Maybank Islamic Berhad: Key Financial Ratios
FY2015 FY2014
Fee Income Ratio 15.2% 12.6%
Return on Equity (ROE) 15.65% 16.43%
Total Capital Ratio (TCR) 16.489% 16.088%
Maybank Islamic: Total Gross Financing grew by 21%
YoY to RM131.1 billion
11% 31% 17%
22%
30%
12%
Maybank Islamic Berhad: Financial Performance
CFS:19% GB:27%
1,319 1,594
1,812
2,268 2,600
3,030
FY10 FY11 FY12 FY13 FY14 FY15
Maybank Islamic's Total Income (RM mil)
CAGR
18.1%
CAGR
18.6%
64
Maybank Islamic Market Share (Malaysia)
Maybank Islamic ranks No.1 by Asset Market Share
in Malaysia
Source: BNM monthly statistical bulletin Sep-15 and respective Bank’s Financial
Statements
Malaysia Asset Market Share
Sep-15 Rank
Maybank Islamic 28% 1
CIMB Islamic 10% 2
Bank Islam 9% 3
Source: Bloomberg
Sukuk League Table Ranking YTD 2015
Market Share
(%)
Amount
(USD million)Issues
#4 Maybank 8.6 2,960 106
Market Share
(%)
Amount
(RM million)Issues
#3 Maybank 17.9 9,670 98
Global Sukuk League Table
Ranking
MYR Sukuk League Table
Ranking
Key
Products Dec 15 Dec 14
Automobile
Financing 42.2% 39.7%
Home
Financing 27.7% 25.8%
Term
Financing 30.2% 30.1%
Maybank Islamic contribution to Maybank Malaysia Loans
and Financing as at December 2015
*Deposits is exclusive of Investment Account
Islamic Banking: Market Share as at Dec 2015
Year Contribution
Dec 2014 44.3%
Mar 2015 47.2%
Jun 2015 48.7%
Sep 2015 49.4%
Dec 2015 50.8%
Maybank
Conventional
Malaysia, 49.2%
Maybank Islamic,
50.8%
32.7% 33.0% 33.4% 33.6% 33.5%
24.9% 24.4% 24.8%
27.0% 26.3%
Dec 14 Mar 15 Jun 15 Sep 15 Dec 15
Financing Deposits
65
767.6 601.7
FY2014 FY2015
27.71 27.34
Dec 2014 Dec 2015
0 1,000 2,000 3,000 4,000 5,000 6,000
Total Life/Family& General
Total General
Misc
MAT
Motor
Fire
Total Life/Family
Group Premium
Credit Premium
Regular Premium
Single Premium
RM Million
FY2015
FY2014
Total Assets (RM billion)
Life / Family (New Business) Market Share
General Insurance and Takaful Market Share
No. 4 in Life/Family
(New Business)
No. 1 in General
Insurance and
Takaful
-21.6% YoY
Profit Before Tax (RM million)
* Market Share is for period Oct’14 – Sep’15 (Source: LIAM / ISM Statistics)
• PBT includes estimated transfer of RM91.4 million from Family Fund in December
- 1.5% YoY
Insurance and Takaful: Performance Overview
9.5%
14.0%
16.0%
19.2%
0.0% 5.0% 10.0% 15.0% 20.0% 25.0%
Etiqa Ins. & Tak.
GE Ins. & Tak.
Prudential Ins. & Tak.
AIA Ins. & Tak.
8.0%
11.0%
13.2%
0.0% 5.0% 10.0% 15.0%
HL-MSIG Ins. & Tak.
Allianz Insurance
Etiqa Ins. & Tak.
+9.5%
+14.0%
-68.9%
+0.4%
+9.0%
-8.1%
-3.2%
+2.4%
+4.3%
-1.0%
+6.7%
Gross Premium
66
48,670.6
57,843.4 52,483.0
63,376.7
Dec 2014 Dec 2015
Gross Loans
CustomersDeposits
4,206.3
4,958.4
750.8 950.5
FY2014 FY2015
Revenue
PBT
Maybank Philippines: Performance Overview
Revenue increased by 17.9% YoY, led by higher net
interest income (NII) and fee income.
The increase in NII was due to higher loan yields and
lower funding cost. Fee income growth was
supported by higher trading gain, loan-related fees,
credit card fees and trust fees.
PBT grew by PESO199.7 million or 26.6% YoY driven
by higher revenue.
Gross loans grew 18.8% YoY driven by consumer loans
growth.
Customer deposits rose by 20.8% YoY on the back of
higher current accounts and fixed deposits growth.
Gross impaired loans ratio increased by 138 bps YoY,
mainly due to an increase in impaired loans from the
auto, mortgage and corporate portfolios.
+17.9% YoY
+26.6% YoY
Key Ratios FY2015 FY2014
Return on assets 1.15% 0.95%
Return on equity 7.55% 7.31%
Cost-to-income ratio 69.58% 72.82%
Loans to Deposit ratio 91.27% 92.74%
Gross Impaired Loans Ratio 4.43% 3.05%
No. of branches 79 79
Revenue and PBT
Gross Loans and Deposits
Key Highlights
PESO
Mil
PESO
Mil
+18.8% YoY
+20.8% YoY
67 Financial Results: 4Q FY2015 & Full Year FY2015 ended 31 December 2015
Table of Contents
Executive Summary 2
Results Overview 6
Prospects & Outlook 23
Appendix :
1. Financial Performance 28
2. Community Financial Services 44
3. Global Banking 49
4. Maybank Singapore 54
5. Maybank Indonesia 58
6. Other Segments 63
7. Affiliates 68
68
1,658.8
1,958.9
133.6
391.7
FY2014 FY2015
Revenue
PBT
An Binh Bank: Performance Overview
Revenue and PBT
Gross Loans and Deposits
Revenue grew by 18.1% YoY or VND300.1 bil, as fee
income and net interest income improved by 52.6%
and 13.6% respectively.
PBT rose by 193.2% YoY or VND258.1 bil as revenue
improved while overheads and loan loss provision
were well-managed.
Gross loans contracted by 3.5% YoY due to lower
corporate and FI lending.
Customer deposits expanded by 5.4% YoY on the back
of higher saving accounts growth.
Gross NPL ratio improved to 1.73% from 2.75%
contributed by lower NPL balance.
Key Highlights
Key Ratios FY2015 FY2014
Return on assets 0.60% 0.30%
Cost-to-income ratio 57.35% 66.05%
Loans to Deposit ratio 86.05% 93.90%
Gross NPL Ratio 1.73% 2.75% VN
D B
il
VN
D B
il
+18.1% YoY
+193.2% YoY
42,633.1
41,195.1
45,403.7
47,872.1
Dec 2014 Dec 2015
Gross Loans
CustomersDeposits
-3.5% YoY
+5.4% YoY
69
MCB Bank: Performance Overview
Revenue and PBT
Gross Loans and Deposits
Key Highlights
Revenue increased by 17.0% YoY while PBT improved
by 14.4% YoY, in tandem with revenue growth.
Net interest income grew by 13.6% YoY due to higher
interest income and lower interest expense.
Non-interest income increased by 28.7% YoY, mainly
due to higher gain on sale of securities and
commissions received.
Gross loans expanded by 3.4% YoY driven by higher
domestic loans.
Customer deposits rose by 1.9% YoY contributed by
higher current accounts and savings accounts
growth.
Gross NPL ratio improved by 69 bps due to lower NPL
balances.
Key Ratios FY2015 FY2014
Return on assets 2.55% 2.81%
Cost-to-income ratio 36.15% 38.79%
Loans to Deposit ratio 48.46% 47.75%
Gross NPL Ratio 6.10% 6.79%
56.9
66.6
37.4 42.8
FY2014 FY2015
Revenue
PBT
+17.0% YoY
+14.4% YoY
322.8 333.8
676.0 688.9
Dec 2014 Dec 2015
Gross Loans
CustomersDeposits
+1.9% YoY
+3.4% YoY
PKR B
il
PKR B
il
70
Dato’ Mohamed Rafique Merican
Group Chief Financial Officer
Contact: (6)03-2074 7878
Email: [email protected]
MALAYAN BANKING BERHAD
14th Floor, Menara Maybank
100, Jalan Tun Perak
50050 Kuala Lumpur, Malaysia
Tel : (6)03-2070 8833
www.maybank.com
Narita Naziree
Head, Group Performance Reporting & Investor Relations
Contact: (6)03-2074 8017
Email: [email protected]
Disclaimer. This presentation has been prepared by Malayan Banking Berhad (the “Company”) for information purposes only and does not purport to contain all the
information that may be required to evaluate the Company or its financial position. No representation or warranty, express or implied, is given by or on behalf of the
Company as to the accuracy or completeness of the information or opinions contained in this presentation.
The presentation does not constitute or form part of an offer, solicitation or invitation of any offer, to buy or subscribe for any securities, nor should it or any part of
it form the basis of, or be relied in any connection with, any contract, investment decision or commitment whatsoever.
The Company does not accept any liability whatsoever for any loss howsoever arising from any use of this presentation or their contents or otherwise arising in
connection therewith.
Investor Relations Contact
Humanising Financial Services