KUALA LUMPUR, Feb 24 — Malayan Banking Bhd recorded a net profit of RM8.10 billion for the financial year ended Dec 31, 2021 (FY21) compared with RM6.48 billion in FY20.
Revenue, however, slipped to RM45.96 billion from RM51.03 billion previously, the group said in a filing with Bursa Malaysia today.
The group’s net interest income and Islamic banking income for FY21 rose by RM2.38bil, or 13.8%, to RM19.61 billion, compared to prior year.
Its net earned insurance premiums from insurance and takaful subsidiaries decreased by RM612.1 million to RM8.85 billion compared to FY20.
“Other operating income of the group for FY21 was RM4.47 billion, a decrease of RM2.83 billion, or 38.8 per cent from RM7.30 billion in the previous corresponding financial year.
“The decrease was mainly due to lower net gain in investment income of RM1.42 billion, unrealised mark-to-market loss on revaluation of derivatives of RM146.8 million, financial assets designated upon initial recognition at fair value through profit or loss (FVTPL) of RM764.2 million and financial investments at FVTPL of RM235.8 million for FY21,” it said.
The decreases were, however, mitigated by a realised gain on derivatives of RM357.1 million for FY21 versus a realised loss of RM626.9 million for FY20, higher unrealised mark-to-market gain on revaluation of financial liabilities at FVTPL of RM700.8 million, and higher fee income of RM264.3 million, the bank said.
Overall, the group expects a better outlook for 2022, driven by broader and sustained economic re-openings, easing of border controls and higher vaccination rates.
The group said it is committed to supporting the economic recovery across its home markets by enabling access to financial support to customers to strengthen their financial positions and to capitalise on emerging growth opportunities,” it added. — Bernama
