PETALING JAYA: Malayan Banking Bhd’s (Maybank) net profit for the first quarter ended March 31, 2021 (Q1’21) increased 16.71% to RM2.39 billion from R.
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has appointed Shahril Azuar Jimin as its chief sustainability officer (CSO) to further accelerate the group’s sustainability agenda.
The banking group said on Thursday, Shahril who is currently the CEO of Maybank Foundation, will expand his role as CSO and will lead the group’s efforts in sustainability.
Maybank group president & CEO Datuk Abdul Farid Alias said Shahril will take the lead to design, align and integrate sustainability initiatives and goals within existing policies and procedures across the group, as well as reaffirm sustainability as a guidingprinciple and objective in its strategic plans.
Farid said in 2009, when Maybank Group introduced its mission to humanise financial services, its intent was to deepen its commitment as a responsible corporate citizen, conscious of the impact it has been making on the lives of customers and communities.
PETALING JAYA:
Malayan Banking Bhd (Maybank), which posted a lower year-on-year (y-o-y) net profit of RM6.48 billion in FY20, remains cautious on potential asset quality slippages given uncertainty over the economic recovery trajectory for the Malaysian and Indonesian markets.
“Both markets account for collectively 80% of the group’s income and have seen a rough start in 2021 with more restrictions imposed in Q1’21 owing to rising Covid-19 cases,” Maybank group president & CEO Datuk Abdul Farid Alias told a virtual press conference on Thursday after announcing its FY20 financial results.
He provided a group return in equity (ROE) guidance of 9% in FY21, compared with 8.1% in FY20, on continued soft income environment and elevated provisioning. Net credit charge off is expected to remain elevated albeit slightly lower y-o-y at potentially 70-80bps for FY21, from 88bps in FY20.
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