, Malaysia

Maybank Kim Eng non-interest income to boost group's growth

Maybank will report commendable first quarter results with pre-provision operating profit growth expected at 19.3 percent.

This will be underpinned by a total revenue growth of 22.5 per cent, according to OSK Research.

The group’s ability to sustain its overall group loans growth at 16 per cent and Maybank Kim Eng’s non-interest income contribution were expected to be the key drivers of year on year revenue growth.

The research firm forecasted a full-year net interest margin compression of six basis points to 2.47 percent for financial year 2012 in view of the continued pressure on NIMs faced by Bank Internasional Indonesia in Indonesia, for which OSK Research anticipated a further 20bps compression.

However, with Indonesia’s loans book contributing to a relatively small eight per cent of the group’s total gross loan base, the impact on overall group NIMs would be well cushioned by stable NIMs in Singapore and only a slight deterioration in Malaysia, due to strong current account savings growth.

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