KUALA LUMPUR, May 6 — Malayan Banking Bhd’s (Maybank) key performance indicators (KPIs) for the financial year 2021 (FY21) stayed unchanged despite movement control order 3.0 (MCO 3.0), said group president and chief executive officer Datuk Abdul Farid Alias.
During a press conference after Maybank’s 61st annual general meeting today, he said no revision was made to its return on equity.
Abdul Farid said a provision of RM4.6 billion was made on loans in 2020 to prepare Maybank for eventual possibilities.
Hence, he said the recent imposition of MCO 3.0 was factored in, allowing the bank to adjust better than during the previous restrictions.
“The MCO that we are seeing right now is consistent with what we have anticipated last year.
“During the previous MCO 2.0, more than 70 per cent of the economy remained open compared with the MCO 1.0 last year, which was at 30 per cent.
“We are adjusting to this better than before,” he said.
Asked about the possible closing of 600 branches as claimed by the National Union of Bank Employees, Abdul Farid said outlets will remain as an important channel for Maybank to engage with customers.
“There will be a change in branch design and structure in the next couple of years and it could change depending on the structure of the economy at the location where it is.
“We may increase branches instead of closing them,” he noted.
In FY20, Maybank posted a lower net profit of RM6.48 billion compared with RM8.20 billion in FY19 due to significantly higher net impairment losses, owing to the continued impact from the Covid-19 pandemic.
Its revenue slipped to RM51.03 billion from RM52.86 billion previously, while basic earnings per share fell to 57.66 sen from 73.45 sen. — Bernama
