Humanising Financial Services
Disclaimer: The contents of this document/information remain the intellectual property of Maybank and no part of this
is to be reproduced or transmitted in any form or by any means, including electronically, photocopying, recording or in
any information storage and retrieval system without the permission in writing from Maybank. The contents of this
document/information are confidential and its circulation and use are restricted.
Financial ResultsFourth Quarter and Full Year FY2020 ended 31 December 202025 February 2021
Investor Presentation
0
Executive Summary 2
4Q & Full Year FY2020 Financial Performance 8
Prospects & Outlook 21
Appendix:
1. Financial Performance 24
2. Community Financial Services 36
3. Global Banking 39
4. Maybank Singapore 42
5. Maybank Indonesia 45
6. Other Segments 48
Table of Contents
Maybank Group FY2020 Overview
2Note: *After proposed dividend and assumption of 85% reinvestment rate.
Flat Income YoY
Net operating income of RM24.76 billion for FY2020, was a result of:
Lower net fund based income of 4.9% as NIM compressed 17bps YoY on steep interest rate cuts across
home markets and Day-1 net modification loss absorbed. Group loans remained flat on reduced business
activities and economic contractions as overseas loans declined, offsetting the 4% loan growth in Malaysia.
Given the slow growth and low-yield environment, we capitalised on unintended opportunities through
bond disposals to mitigate reduced mobility impact on core fees in 2020. This enabled a 12.3% net fee
based income growth, which fortified the Group’s overall income.
1
• Group CASA grew 23.5% supported by growth across all home markets, resulting in Group CASA ratio of
42.8% as at end-Dec’20 (Dec’19: 35.5%). Strong liquidity risk indicators i.e.: Group LCR at 142.0%.
• Total capital and fully loaded CET1 capital ratios at 18.10%* and 14.73%* respectively as at end-Dec’20.
• Final dividend of 38.5 sen per share for FY2020, with an electable portion of 21 sen under the DRP.
Flushed Liquidity
and Robust Capital
Positions
4
Proactive
Provisioning
Loan loss provisioning doubled YoY to RM4.6 billion, with close to 50% of provisioning attributed to
macroeconomic variable adjustments and management overlay for vulnerable borrowers.
Loan loss coverage increased to 106.3% as at end Dec’20 from 77.3% a year earlier, as new impaired loan
formation remained moderate with Group GIL ratio at 2.23% as at end Dec’20 (Dec’19: 2.65%).
Diligent Cost
Management
Given weaker net operating income, the Group emplaced a strategic cost management effort since mid
2020 to ensure:
Close monitoring of discretionary spend but not at the expense of revenue generation. This yielded an
overall cost reduction of 2.7% YoY, resulting in a positive JAWs of 2.8% despite the weak income.
Cost-to-income ratio of 45.4%, marking a historical low in over a decade.
2
3
Maybank2020: FY2020 Achievements in Key Strategic Objectives
3
• Unveiled SME Digital Financing, the first end-to-end digital financing for SMEs in Malaysia with 10-minuteapproval TAT, leveraging on machine learning and a fully-digital application process
• Launched Sama-Sama Lokal, an internally developed platform that was rolled out within 3 weeks, duringMalaysia’s first Movement Control Order in March 2020
The Leading
ASEAN
Wholesale Bank
Linking Asia
• Ranked Top 2 on the ASEAN Local Currency Bonds League Table and Top 3 on the Global Sukuk League Table by Bloomberg
• Executed noteworthy ESG-driven deals such as Malaysia’s Large Scale Solar 3 solar power project financing, and launched Maybank Global Sustainability Equity-i Fund, a Shariah-compliant equity fund adopting ESG factors
The Leading
ASEAN Insurer
• No.1 Bancassurance player in Malaysia with 25% market share in Bancassurance Regular Premiums/ Contribution• Garnered SGD100 million in gross premiums over three months from new customers following Etiqa Singapore’s
new partnership with Singtel
The Global
Leader In Islamic
Finance
• Completed the USD2.5 billion Sovereign Sukuk issuance for the Republic of Indonesia, whereby USD750.0 millionwill be deployed for green projects
• Introduced Malaysia’s first Social Impact Deposit, extending financial relief to those affected by the COVID-19pandemic
The Digital Bank
of Choice
• Most engaging digital banking platform in Malaysia with more than 6 million customers on the Maybank2u app• Processed 13 billion transactions on our digital platforms in Malaysia throughout 2020, of which over 1.1 billion
were monetary transactions worth RM641 billion in value
The Top ASEAN
Community Bank
1
2
3
4
5
Supporting Our Stakeholders Through The Pandemic
• Our business continuity processes were activated even before COVID-19 was declared a pandemic.
4
EMPLOYEES
We seek to keep our employees connected, engaged and productive, while
enabling them to perform for business continuity. Some key initiatives include:
o Declarations and deferment of all events requiring physical attendance.
o Accelerated implementation of flexible work policies.
o Established 24/7 Group Human Capital Staff Emergency Support team.
o Financing assistance for affected employees
o Virtual learning and employee engagement initiatives to promote
mental, physical, emotional and performance fitness.
COMMUNITIES
• Over RM20 million contributed to MERCY Malaysia and the Ministry of Health.
• Raised over RM3 million through crowdfunding initiatives.
• Launched Sama-Sama Lokal to help digitise small local businesses.
• Primary distribution bank for Sukuk Prihatin under PENJANA.
CUSTOMERS
• Provided financial relief and support to affected
customers and clients:
o Feb-Sep 2020: moratorium/payment deferments
and R&R.
o Post-Sep 2020: Repayment Assistance followed by
Targeted Repayment Assistance for specific
borrower groups made available till June 2021.
• Proactive engagement with customers and clients to
offer guidance on options available for financial
assistance.
• Accelerate fully digital financial products and
services to enable daily remote banking with minimal
disruption.
• Physical branches - temporary closures or revised
operating hours when needed, developed EzyQ to
manage queues, regular disinfection exercises,
enforced physical distancing measures and usage of
protective equipment at the counters.
Financing Support for Customers
5
% of Outstanding
Loan Balance^
As at
12/11/20
As at
11/2/21
Mortgage 10.0% 14.6%
Auto Finance 4.1% 6.4%
Unit Trust 4.3% 9.7%
Other Retail Loans 6.3% 1.7%
SME* 23.8% 17.4%
Business Banking* 20.5% 11.2%
Corporate 28.4% 28.2%
Total 14.6% 15.7%
% of Outstanding
Loan Balance^
As at
12/11/20
As at
11/2/21
Mortgage 10.6% 0.8%
SME* 35.6% 26.9%
Business Banking* 40.5% 28.0%
Corporate 7.2% 6.4%
Total 11.3% 6.2%
% of Outstanding
Loan Balance^
As at
10/11/20
As at
11/2/21
Mortgage 17.0% 17.7%
Auto Finance* 16.6% 12.1%
Credit Cards & Personal Loans 10.7% 11.4%
RSME 26.8% 26.3%
SME+ 15.9% 16.6%
Business Banking 15.5% 17.7%
Corporate 25.6% 24.7%
Total 20.8% 20.8%
* Bank-only, not including subsidiaries i.e., WOM and Maybank Finance.
Malaysia Singapore Indonesia
^ Against outstanding total gross loans by each country’s segment @ 31 Oct 2020 & 31 Jan 2021
% of Loans Under Repayment Assistance, Relief and R&R Programmes Against Respective Total Home Market Loans
Malaysia:
• May’20: Automatic moratorium (AM) for all individuals and SMEs effective 1 Apr to 30 Sep’20.
• Aug’20: QoQ reduction as some borrowers opted-out of AM and resumed repayments.
• Nov’20: Reduction as majority of borrowers resumed repayments in Oct with AM expiry. Continued extended relief
support by Maybank, known as Repayment Assistance (RA), provided to impacted individuals and SMEs.
• Feb’21: Captures Targeted Repayment Assistance (TRA) offered to eligible B40 individuals and microenterprise customer
groups, alongside Maybank’s ongoing RA. Both RA and TRA will be made available until 30 June’21.
• Total BNM Special Relief Facility loans disbursed to SMEs was RM1.7 billion as at 11 Feb’21.
Singapore:
• Reduction in Feb’21 as initial moratorium ending Dec’20 expires. Fewer borrowers continue with repayment assistance.
• Provided SGD1.1 billion Government relief loans to 2,134 RSME and Business Banking customers1 as at 11 Feb’21.
Indonesia:
• Initial uptick in 2020 as more borrowers requested restructuring, but has since stabilised in 4Q’20.
71.9%68.2%
14.6% 15.7%
3.7%10.8% 11.3% 6.2%
14.1%17.7%
20.8% 20.8%
May'20 Aug'20 Nov'20 Feb'21
Malaysia
Singapore
Indonesia
¹ Based on number of accounts
* Includes Special Relief Facility loans
* Includes Government relief loans
24.89k393.40k
819.24k
239.36k
4Q 2019 1Q 2020 2Q 2020 3Q 2020 4Q 2020
1.53 mln1.88 mln
1.59 mln
3.22mln
3.82mln
Continued Growth in Digital Solutions and Platforms
6
• Garnered >100k unique users within 4 days of launch
on 8 Oct, and received a 4.5 star rating on Appstore
• Features intuitive UI/UX, seamless customer
experience, MAE e-wallet, MAE debit card, financial
management control tools and lifestyle applications
(F&B, transportation, entertainment & travel)
QRPay
QR
Pay
Tra
nsa
cti
on
Volu
me
QoQ: 18.7%
YoY: >100%
QoQ: -70.8%
3.955.89 5.10
6.284.28
4Q 2019 1Q 2020 2Q 2020 3Q 2020 4Q 2020
Maybank2u
Moneta
ry T
ransa
cti
on V
alu
e
(RM
bln
/ID
R t
ln/S
GD
bln
)
126.82 132.40 138.97
181.70 187.71
11.18 11.07 12.63 14.88 17.34
QoQ: 3.3%
YoY: 48.0%
QoQ: 16.5%
YoY: 55.0%
QoQ: -31.8%
YoY: 8.3%
Transaction Volume Growth (QoQ):
MY: 9.0% IND: -8.3% SG: 5.0%
34.5542.50
48.73
68.35 71.09
4Q 2019 1Q 2020 2Q 2020 3Q 2020 4Q 2020
Mobile App
QoQ: 4.0%
YoY: >100%
QoQ: 18.0%
YoY: >100%
Transaction Volume Growth (QoQ):
MY: 9.7% IND: -9.1%
Moneta
ry T
ransa
cti
on V
alu
e
(RM
bln
/ID
R t
ln/S
GD
bln
)
5.19 5.92 7.83 9.85 11.62
• SME digital financing: 146% growth QoQ to RM370.5
million in total financing disbursed in 4Q
• Business account STP: 7% growth QoQ in total
accounts created in 4Q, amounting to 27.1k accounts
• Sama-Sama Lokal: Over 4.4k SMEs digitised by year-
end
• Collaboration with ShopeePay for the 11:11
supersale, as well as Shopee and Lazada for the
12:12 mega online sale campaign, contributed
to a QoQ increase in transaction value & volume
by 36X & 38X respectively, to RM99.9 million
from 1.9 million transactions in 4Q
• Ultimate Cashback campaign for Maybank QRPay
drove strong usage in 4Q 2020, charting a 15% &
19% QoQ growth in value & volume respectively,
to RM184 million from 3.8 million transactions.
• Deepamoney with MAE charted a 86% & 50%
growth in value & volume to RM28.7 million
from over 220k transactions for the Send Money
feature during the campaign period against 2019
Launch of
MAE by
Maybank2u
App
Continued
momentum
with SME
solutions
E-commerce
campaigns &
festivities
Note: The QoQ decline in Indonesia’s QRPay transaction volume
was due to stricter movement restrictions imposed during 4QNote: Singapore’s Maybank2u transaction value declined QoQ on
less term deposit placements given lower rates in 4Q.
Executive Summary 2
4Q & Full Year FY2020 Financial Performance 8
Prospects & Outlook 21
Appendix:
1. Financial Performance 24
2. Community Financial Services 36
3. Global Banking 39
4. Maybank Singapore 42
5. Maybank Indonesia 45
6. Other Segments 48
Table of Contents
P&L Summary: FY2020PPOP growth of 2.6% YoY on double-digit fee based income expansion and controlled overheads
8
Note:
* From consolidated Full Year FY2020 Group numbers, Insurance and Takaful accounts for 11.4% of net fund based income and 9.6% of net fee based income
¹ Pre-provisioning operating profit (PPOP) is equivalent to operating profit before impairment losses
² Net Profit is equivalent to profit attributable to equity holders of the Bank
More
details on RM million FY2020 FY2019 YoY4Q
FY2020
3Q
FY2020QoQ
4Q
FY2019YoY
s.26 Net fund based income * 16,650.5 17,514.8 (4.9)% 4,337.5 4,128.3 5.1% 4,518.9 (4.0)%
s.11/
12/26 Net fee based income * 8,112.7 7,226.1 12.3% 1,975.2 1,949.5 1.3% 1,974.0 0.1%
s.24/25 Net operating income 24,763.2 24,740.9 0.1% 6,312.7 6,077.8 3.9% 6,492.9 (2.8)%
s.13 Overhead expenses (11,245.2) (11,561.9) (2.7)% (2,892.4) (2,704.4) 7.0% (2,969.1) (2.6)%
s.25 Pre-provisioning operating profit (PPOP) 1 13,518.0 13,178.9 2.6% 3,420.3 3,373.4 1.4% 3,523.8 (2.9)%
Net impairment losses (5,070.2) (2,323.4) >100% (1,499.3) (805.9) 86.0% (298.9) (>100)%
Operating profit 8,447.8 10,855.5 (22.2)% 1,921.0 2,567.5 (25.2)% 3,224.9 (40.4)%
s.24 Profit before taxation and zakat (PBT) 8,657.0 11,013.9 (21.4)% 1,992.1 2,611.3 (23.7)% 3,263.6 (39.0)%
Net Profit 2 6,481.2 8,198.1 (20.9)% 1,537.4 1,952.4 (21.3)% 2,449.1 (37.2)%
EPS - Basic (sen) 57.7 73.5 (21.5)% 13.7 17.4 (21.2)% 21.8 (37.2)%
22.1 22.6
18.5 16.3
Dec 19 Dec 20
Community Financial Services Global Banking
(10.8)%(10.8)%
+2.2%
200.9 248.0
282.7259.3
81.7 72.9
Dec 19 Dec 20
14.0 19.3
34.3 32.3
Dec 19 Dec 20
CASA FD Others
40.5 45.7
70.4 69.4
Dec 19 Dec 20
(1.4)%
(11.8)%
+23.5%
91.3 71.5
35.536.4
Dec 19 Dec 20
+2.3%
231.3 247.0
82.7 79.6
Dec 19 Dec 20
Net Fund Based Income: FY2020 YoY Trends (1/2)Group deposits grew on CASA growth across home markets, while Group loans remained muted on economic contractions
9
(21.6)%+6.8%
136.0 166.4
133.8 116.3
81.7 72.9
Dec 19 Dec 20
355.7
(8.3)%
108.2523.5 523.7
Dec 19 Dec 20
314.1
40.0
127.0
RM
billion
SG
D b
illion
IDR
tri
llio
n
Gross Loans (YoY)
+4.0% (1.9)% (14.8)% +0.0%
40.7
326.7
RM
billion
RM
billion
SG
D b
illion
IDR
tri
llio
n
Group Deposits (YoY)
29.1% 37.5%38.7% 46.8%35.5% 42.8% 36.5% 39.7%CASA
Ratio:
(13.0)%
+29.8% (5.8)%
565.3 580.2351.5
48.3 51.6 110.9 115.1
+1.2% +6.9% +3.8% +2.6%
+12.9%
RM
billion (3.8)%
Note:
• Industry loans growth for Malaysia is 3.4%, Singapore is -1.2% and Indonesia is -2.7%
• CASA ratio for Group and Malaysia includes investment accounts
• Refer to pages 29-31 for detailed information on loans and deposits growth by country and products.
+22.3%
+37.7%
Group Malaysia Singapore Indonesia
10
Net Fund Based Income: FY2020 (2/2)NIM compressed 17 bps YoY on steep interest rate cuts and net mod loss impact; rebounds 10 bps QoQ in 4Q’20
5 Year Trend
2.27
2.36
2.33
2.27
2.10
FY2016 FY2017 FY2018 FY2019 FY2020
2.13 Without
mod loss
With mod
loss
Net Interest Margin (%)
2.29 2.23
1.96 2.05
2.15
4Q '19 1Q '20 2Q '20 3Q '20 4Q '20
QoQ Trend
Rate cuts in 2020:
125bps OPR cut
3-Mth Sibor reduces 136 bps
125bps cut in Indonesia’s Reference Rate
11
Net Fee Based Income: FY2020 (YoY)Growth driven by MTM derivatives revaluation gains and realised gains on securities’ disposal
7,226
5,730
560 936
8,113
6,495
575 1,043
Total Other Operating Income fromBanking Operations
Fee Income fromIslamic Operations
Net Fee Incomefrom Insurance
FY2019
FY2020
RM million FY2019 FY2020 YoY
Commission, service charges and fees 3,431 3,374 (1.7)%
Investment & trading income 1,685 1,990 18.0%
Unrealised gain/ (losses) on financial assets and investments 1,372 766 (44.1)%
Derivatives and financial liabilities (313) 394 (>100)%
Foreign exchange profit 733 455 (37.9)%
Other income 369 320 (13.4)%
Total Group’s Other Operating Income 7,277 7,299 0.3%
Of which: Other Operating Income from Insurance 1,547 805 (48.0)%
13.3% YoY 2.8% YoY 11.4% YoY 12.3% YoY
Notes using Maybank’s 4Q & Full Year FY2020 Financial Statements:
¹ Group’s ‘Other operating income’ [Note A25] less ‘Other operating income’ from Insurance [Note A40(a)]
² Summation of ‘Other Operating Income’ from Insurance and ‘Net earned insurance premiums’ under Note A40(a) with ‘Net insurance benefits and claims incurred, net fee and commission expenses, change in expense liabilities and taxation
of life and takaful fund’ under Note A26
RM
million
1 2
12
Net Fee Based Income: 4Q FY2020 (QoQ)QoQ growth from higher commission, service charges and fees and unrealised MTM gains on securities
2,380 2,128
187 64
1,808
1,411
109 289
1,949
1,527
160 263
1,975
1,430
119 426
Total Other Operating Income fromBanking Operations
Fee Income fromIslamic Operations
Net Fee Incomefrom Insurance
1Q FY2020
2Q FY2020
3Q FY2020
4Q FY2020
RM million1Q
FY2020
2Q
FY2020
3Q
FY2020
4Q
FY2020QoQ
Commission, service charges and fees 820 693 771 1,089 41.3%
Investment & trading income 769 479 711 30 (95.7)%
Unrealised gain/ (losses) on financial assets and investments (1,352) 1,380 249 489 96.4%
Derivatives and financial liabilities 1,063 (412) 179 (436) (>100)%
Foreign exchange profit (52) 197 26 284 >100%
Other income 84 90 100 46 (54.7)%
Total Group’s Other Operating Income 1,333 2,427 2,037 1,502 (26.2)%
Of which: Other Operating Income from Insurance (795) 1,017 510 72 (85.8)%
(25.3)%
46.1%
(41.7)%
(8.7)%
61.9%
(33.7)%
8.2%
(6.3)%
>100%
1.3%
7.8%
(24.0)%
RM
million
1 2
Notes using Maybank’s 4Q & Full Year FY2020 Financial Statements:
¹ Group’s ‘Other operating income’ [Note A25] less ‘Other operating income’ from Insurance [Note A40(a)]
² Summation of ‘Other Operating Income’ from Insurance and ‘Net earned insurance premiums’ under Note A40(a) with ‘Net insurance benefits and claims incurred, net fee and commission expenses, change in expense liabilities and taxation
of life and takaful fund’ under Note A26
13
Overheads: FY2020 (YoY)Cost discipline yielded CIR of 45.4% and positive JAWs of 2.8% for FY2020
Note:
¹ Total cost excludes amortisation of intangible assets for Maybank Indonesia and Maybank Kim Eng
RM million FY2020 FY2019 YoY4Q
FY2020
3Q
FY2020QoQ
4Q
FY2019YoY
Personnel Costs 6,563.2 6,625.0 (0.9)% 1,610.7 1,581.5 1.8% 1,601.5 0.6%
Establishment Costs 1,892.5 1,905.7 (0.7)% 493.5 482.5 2.3% 534.9 (7.7)%
Marketing Expenses 375.1 596.7 (37.1)% 105.8 84.1 25.8% 147.4 (28.2)%
Administration & General
Expenses 2,414.4 2,434.5 (0.8)% 682.4 556.2 22.7% 685.3 (0.4)%
Total 11,245.2 11,561.9 (2.7)% 2,892.4 2,704.4 7.0% 2,969.1 (2.6)%
% FY2020 FY2019 YoY4Q
FY2020
3Q
FY2020QoQ
4Q
FY2019YoY
Total Cost to Income ¹ 45.4 46.7 (1.3) 45.8 44.5 1.3 45.7 0.1
Group JAWS Position 2.8 (3.1) (0.2)
14
Asset Quality (1/2)Proactive recognition of provisioning from MEV adjustments and overlays for vulnerable accounts
77.3% 81.5%90.5% 97.6%
106.3%
90.8% 89.5%99.2%
106.8%115.9%
Loan loss coverage incl.Regulatory Reserve
Loan loss coverage
Allowances for losses on loans
Note:
Loan loss coverage includes ECL for loans at FVOCI as per Note A11(xii) of the Group’s Financial Statements
FY2020 ECL includes:
• ~RM950 million additional
provisioning on MEV adjustments
• ~RM1.2 billion management
overlays for vulnerable borrowers
ECL (RM million) 4Q FY2019 1Q FY2020 2Q FY2020 3Q FY2020 4Q FY2020 FY2019 FY2020
Stage 1, net (218) (133) 102 (63) 330 (766) 236
Stage 2, net (235) 550 906 295 748 (259) 2,499
Stage 3, net 877 598 761 642 155 3,635 2,157
Write-offs 26 19 12 38 26 97 94
Recoveries (107) (73) (41) (115) (168) (430) (398)
Other debts (8) 1 1 8 1 10 11
Total 334 962 1,739 804 1,093 2,287 4,599
Of which, represented by: Group Community Financial Services (GCFS) (216) 1,987
Group Global Banking (GGB) 2,500 2,606
Group Insurance & Takaful (Etiqa) 3 6
Net Charge Off Rate (44) bps (88) bps
15
Asset Quality (2/2)QoQ decline in GIL for Group and Home Markets on slower formation of newly impaired loans
1.95% 1.96% 1.68% 1.57% 1.54%
3.87% 4.04%3.41%
3.36% 3.15%
4.48%4.93%
6.17%5.59%
5.10%
Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
Malaysia Singapore Indonesia
GIL Ratio Components Dec 2020 Sep 2020 Jun 2020 Mar 2020 Dec 2019
Non Performing Loans (NPL) 2.02% 1.93% 2.03% 2.20% 2.20%
Restructured & Rescheduled (R&R) 0.05% 0.09% 0.09% 0.06% 0.05%
Performing Loans Impaired Due to
Judgmental/ Obligatory Triggers (IPL)0.16% 0.33% 0.37% 0.45% 0.40%
GIL Ratio 2.23% 2.35% 2.49% 2.71% 2.65%
Group Gross Impaired Loans (GIL) Ratio Composition
GIL Ratio by Home Markets
16
Asset Quality by Line of Business in Home MarketsBusiness lines saw QoQ improvement across home markets; slight QoQ uptick in Malaysia consumer lines
Note:
• In Malaysia, industry GIL ratio for mortgage (purchase of residential property) is 1.2%, 0.8% for auto finance and 1.0% for credit cards.
• In Singapore, industry GIL figure is only available for mortgage, which was 0.5%.
• Maybank Indonesia’s GIL ratios are mapped in accordance to its local regulatory reporting requirements. It has fully adopted IFRS 9 effective 1Q FY2020 reporting.
MBI GIL normalised to include IFRS 9 impact
0.55% 0.64% 0.50% 0.28%0.42%
1.77% 1.88%2.44%
2.35% 1.97%
1.05%1.66%
3.12% 3.11%
2.32%
Dec 19 Mar 20 Jun 20 Sep 20 Dec 20
9.40% 9.63%
7.60% 7.346.84%
1.76% 1.58% 1.89%2.44% 2.29%
6.39%
7.92%
10.30%
8.25%8.83%
Dec 19 Mar 20 Jun 20 Sep 20 Dec 20
Malaysia Singapore Indonesia
Mortgage Auto Finance Credit Cards
Retail SME (RSME) Business Banking (BB) Corporate Banking (CB)
Consumer
Business
0.87% 0.92% 0.85% 0.77%0.90%
0.62% 0.56%0.65% 0.59% 0.54%
2.97%
7.98% 7.16%
5.46%
4.70%5.39%
Dec 19 Mar 20 Jun 20 Sep 20 Dec 20
0.65%
0.71%0.53%
0.40%0.57%
0.09%0.13%
0.27%0.16%
0.11%
0.88%0.98%
2.38%2.22%
1.09%
Dec 19 Mar 20 Jun 20 Sep 20 Dec 20
2.49% 2.37% 2.20% 2.16% 1.89%
8.70% 9.18%
7.43%7.56%
6.83%
4.37% 4.58%3.95% 4.08% 3.95%
Dec 19 Mar 20 Jun 20 Sep 20 Dec 20
2.26% 2.35% 2.02%1.67% 1.55%
2.37% 2.42% 2.23%2.02%
1.75%
4.51%
6.49%8.38%
8.85%
7.66%
Dec 19 Mar 20 Jun 20 Sep 20 Dec 20
30% 29% 41%
Upstream Midstream Downstream
Exposure to Oil & Gas and Real Estate Sectors: 31 December 2020QoQ reduction in Group’s Oil & Gas and Malaysia Real Estate exposure
17
67% 17% 3% 13%
Normal Watchlist Special Mention Account GIL
Group Exposure to Direct & Indirect Oil & Gas Borrowers
Borrowers’ Status:
Segmental Exposure:
Of GIL breakdown:• 69% is from midstream
Maybank Group Malaysia Singapore Indonesia Others
2.48% 1.64% 0.56% 0.05% 0.23%
Note:
Funded-only loans exposure is 2.03% for Group
4.40%3.54% 3.68%
2.87% 2.48%
FY2016 FY2017 FY2018 FY2019 FY2020
5-Year trend (Group exposure):
High Rise Residential,
29.0%
Landed Residential,
15.9%Malls, 9.5%
Offices, 3.7%
Hotels, 6.2%
Others, 35.7%
Real Estate Exposure to
Non-Retail Malaysian Borrowers
RM35.75 bil(or 10.94% of Malaysia
Gross Loans)
Note:
Funded-only loans exposure is 9.63%
‘Others’ include Land, Industrial Buildings & Factories, Other
Residential, Other Commercial and REITs
71% 26% 1% 2%
Normal Watchlist Special Mention Account GIL
Borrowers’ Status:
Of GIL breakdown:
• 41% is from combined exposure to
malls and hotels
• 5% is from high rise residential
Of Watchlist breakdown:
• 31% is from landed residential
• 30% is from combined exposure to
malls, hotels and offices
Note:
Midstream refers to the transportation (i.e. pipeline, rail, barge, oil tanker or truck),
storage and wholesale marketing services of crude or refined petroleum products.
92.4%
95.2%
90.6%
87.8%
90.1%
84.8%86.5%
83.1%
80.3%
83.3%
74.6%76.2%
73.1%70.9%
73.2%
Dec 19 Mar 20 Jun 20 Sep 20 Dec 20
LDR LTF LTFE
141.0% 138.2% 140.5% 146.6% 142.0%
LCR
15.31% 15.58% 14.58%
16.12% 16.34% 15.35%
19.39% 18.64%17.64%
Dec 19 Dec 20 Dec 20
15.73% 15.31% 14.73%
16.49% 16.03% 15.44%
19.39% 18.68% 18.10%
Dec 19 Dec 20 Dec 20
Total Capital Ratio Tier 1 Capital Ratio CET 1 Capital Ratio
After proposed dividend,
assuming 85%
reinvestment rate
Before proposed dividendLiquidity Risk Indicators
18
Strong Liquidity & Capital Positions: 31 December 2020Robust LCR of 142%, while Group CET1 capital ratio at 14.73% (assuming 85% reinvestment rate)
Regulatory Requirements:
• Min. CET 1 Capital Ratio + Capital Conservation Buffer (CCB) is 7.0%, min. Tier 1 Capital
Ratio + CCB is 8.5% and min. Total Capital Ratio + CCB is 10.5%.
• 1.0% D-SIB Buffer effective 31 January 2021
• Pending finalisation of Countercyclical Capital Buffer (0%-2.5%)
Note: 1) BNM’s minimum LCR requirement is 100%2) LTF is gross loans divided by (deposits + borrowings +
subdebt) while LTFE’s denominator is (deposits +
borrowings + subdebt + equity + capital securities)
3) LDR, LTF & LTFE excludes loans to banks and FIs
Group
Bank
11
28 3222.5 24
2420 23 25
25
13.5
44
32
36
33
3133 30
3232 32
39
38.5
FY10 FY11 FP11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20
Final
Interim
19
Dividend: FY2020Single-tier final dividend of 38.5 sen per share, of which 21 sen is electable under the Dividend Reinvestment Plan
76.5% 74.9% 79.9% 74.7% 71.9% 78.5% 76.3% 78.1% 78.5% 77.3%87.8% 91.2%
Dividend (sen), Payout Ratio (%) and Cash Component (%)
Dividend
Payout Ratio
Cash Component
of Total Dividend
Effective Cash
Dividend Paid Out
from Net Profit
60.4% 61.4% 26.2% 17.2% 17.0% 19.0% 22.0% 29.0% 23.2% 28.6% 57.2% 47.1% 87.8%
Note:
* Actual Reinvestment Rate for Dividend Reinvestment Plan. The reinvestment rate for Final Dividend FY2020 is pending the execution of the 20th DRP.
+ The Final Dividend for FY2017, Interim and Second Interim Dividend (reclassification from Final Dividend) for FY2019 were fully in cash.
# The Net Dividend is 28.5 sen of which 15 sen is single-tier dividend. Maybank adopted the single-tier dividend regime with effect from FY2012.
• Effective Cash Dividend Paid Out for FY2020 is based on the actual reinvestment rate for Interim Dividend FY2020 and an 85% reinvestment rate assumption for Final Dividend FY2020.
27% 13% 11% 12% 20% 25% 19% 27%67% 53%
100%
34%
39.3%
FY08 FY09 FY10 FY11 FP11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20
85.9%*
85.7%*
88.2%*85.9%*
88.5%*91.1%*
86.1%*
88.6%*
82.6%*
84.0%*
83.7%*
87.5%*
89.1%*
83.5%* 85.7%* 84.0%*
+
81.7%*
+
+
#
55.060.0
36.0
65.0
53.557.0
54.0 52.055.0
57.0
64.0
87.4%*
52.0
Executive Summary 2
4Q & Full Year FY2020 Financial Performance 8
Prospects & Outlook 21
Appendix:
1. Financial Performance 24
2. Community Financial Services 36
3. Global Banking 39
4. Maybank Singapore 42
5. Maybank Indonesia 45
6. Other Segments 48
Table of Contents
21
Market Outlook2021 industry outlook for our home markets
Key Indicators
Indonesia
• GDP: 4.5% (2021F) vs -5.4% (2020)
• System loan: 5% to 7% (2021F) vs -1.2% (2020)
• 3M SIBOR: 0.40% (2021F) vs 0.41% (2020)
• USD/SGD: 1.28 (2021F) vs 1.32 (2020)
• Inflation average: 0.8% (2021F) vs -0.2% (2020)
• GDP: 5.3% (2021F) vs -2.1% (2020)
• System loan: 4.5% (2021F) vs -2.7% (2020)
• Reference Rate: 3.50% (2021F) vs 3.75% (2020)
• USD/IDR: 14,176 (2021F) vs 14,105 (2020)
• Inflation average: 2.4% (2021F) vs 2.0% (2020)
Singapore
• GDP: 5.1% (2021F) vs -5.6% (2020)
• System loan: 3.8% (2021F) vs 3.4% (2020)
• OPR: 1.75% (2021F) vs 1.75% (2020)
• USD/MYR: 3.90 (2021F) vs 4.02 (2020)
• Inflation average: 2.6% (2021F) vs -1.2% (2020)Malaysia
Outlook
• Vaccine deployment will help restore domestic mobility
and revive consumer spending and investments, while
accommodative monetary policy to extend, with the 25
bps rate cut in February 2021.
• Loans growth expected to improve from mild pick-up in
credit demand amid the prolonged pandemic, with working
capital recovering faster than investment.
• U-shaped recovery is expected as tourism-related and
consumer-facing services sectors take longer to normalise.
Budget 2021 remains expansionary, but with a smaller
fiscal deficit as support measures taper.
• Loan growth may see a turnaround, especially as
economies emerge from lockdowns, but could be tempered
by continued border closures. Deposit growth may taper,
given low interest rates and improving economic activity.
• Economic recovery expected to be gradual and uneven
amid pandemic containment measures that include re-
imposition of Movement Control Order and declaration of
emergency, as well as rollout of COVID-19 vaccines.
• Loan growth is expected to gather momentum, in line with
economic recovery, while NIM should improve as deposits
fully re-price, barring further OPR cuts.
Maybank Performance OutlookGroup guidance for FY2021
22
Operating EnvironmentGroup’s Key Priorities and Guidance
• Leverage fee-based income opportunities in wealth management, global
markets, investment banking, asset management and insurance.
• Accelerate product rollouts on our digital platform to increase market
penetration and generate fee-based revenues. The global economy is expected to
rebound in 2021 following the
development and deployment of
COVID-19 vaccines to achieve herd
immunity. However, the recovery
across different economies will
remain uneven.
Our home markets are expected to
see economic growth this year on
the back of accommodative
monetary policies and
expansionary fiscal policies.
Rates are expected to remain
stable in our home markets, taking
into consideration the recent 25
bps rate cut in Indonesia.
• Capital and liquidity conservation will remain a key focus given lingering
uncertainty in the environment.
• Continued prioritisation of CASA growth across the home markets, in view
of low rate environment. Group NIM expected to remain flat YoY.
• Maintaining disciplined cost management with Group CIR expected to range
between 46% and 47%.
• Reimagining workplace and work arrangements to enhance productivity
and efficiencies as we embrace the new normal.
• Remain cautious on potential asset quality slippages given uncertainty over
economic recovery trajectory for some key markets.
• As such, net credit charge off to remain elevated albeit slightly lower YoY
at potentially 70 to 80 bps for FY21.
• Group ROE guidance of ~9% in FY21, on continued soft income environment
and elevated provisioning.
• Maintaining our 40-60% dividend payout policy rate to reward shareholders,
whilst maintaining capital resiliency.
Income Growth
Continued
Productivity
Drive
Sustainable
Shareholder
Returns
Balance Sheet
Management
Asset Quality
Management
Executive Summary 2
4Q & Full Year FY2020 Financial Performance 8
Prospects & Outlook 21
Appendix:
1. Financial Performance 24
2. Community Financial Services 36
3. Global Banking 39
4. Maybank Singapore 42
5. Maybank Indonesia 45
6. Other Segments 48
Table of Contents
83.7%
6.7%
7.7% 1.9%
Malaysia Singapore Indonesia Others
86.4%
0.7%
6.0% 6.9%
62.8%
24.1%
5.9%7.2%
International & Malaysia Portfolio Mix FY2020
24
Overseas:
16.3%Overseas:
37.2%
65.5%
17.2%
11.1%
6.2%
Net Operating Income Profit Before Tax
FY2020
Gross Loans *
Overseas:
34.5%
(Jan 20 – Dec 20)
RM8.66
billionRM523.7
billion
RM24.76
billion
60.5%24.4%
7.1%8.0%Overseas:
13.6%Overseas:
39.5%
61.8%18.7%
12.1%
7.4%
FY2019
Overseas:
38.2%
(Jan 19 – Dec 19)
RM11.01
billionRM523.5
billion
RM24.74
billion
Note:
* Net of unwinding interest and effective interest rate
Segmental Performance of Businesses: FY2020 (1/2)
25
13,179
6,249 6,457
74 12 972
13,518
5,654 6,847
518 34 1,017
Total Group CommunityFinancial Services
Group Corporate Banking& Global Markets
Group Investment Banking Group Asset Management Group Insurance& Takaful
FY2019 FY2020
24,741
13,792
8,341
1,144 125 1,923
24,763
12,914
8,747
1,528 144
1,982
Total Group CommunityFinancial Services
Group Corporate Banking& Global Markets
Group Investment Banking Group Asset Management Group Insurance& Takaful
FY2019 FY2020
Net Operating Income
+0.1%
RM
million
PPOP
(6.4)% +4.9%
Group Global Banking +13.1%
Group Global Banking +8.4%
FY2019: 9,611 FY2020: 10,419
FY2019: 6,544 FY2020: 7,398
RM
million
+6.0% (9.5)%
+33.5% +14.8% +3.0%
+2.6%
+>100% +>100% +4.7%
Note:
Net income & PPOP for Group includes “Head Office & Others” expenditure of RM585.7 million for FY2019 and RM551.5 million for FY2020.
17,515
10,408
5,261
260 1 1,287
16,651
9,900
5,409
243 2 1,260
Total Group CommunityFinancial Services
Group Corporate Banking &Global Markets
Group Investment Banking Group Asset Management Group Insurance& Takaful
FY2019 FY2020
Segmental Performance of Businesses: FY2020 (2/2)
26
7,226
3,384 3,081
884 124
636
8,113
3,014 3,338
1,285
142 721
Total Group CommunityFinancial Services
Group Corporate Banking& Global Markets
Group Investment Banking Group Asset Management Group Insurance& Takaful
FY2019 FY2020
Net Fund Based Income
Group Global Banking +2.4%
Net Fee Based Income
(6.4)% +>100% (4.9)% +2.8% (2.1)%
FY2019: 5,522 FY2020: 5,655
Group Global Banking +16.5%
FY2019: 4,090 FY2020: 4,764
+8.3% (10.9)%
RM
million
RM
million
+12.3%
(4.9)%
+45.3% +13.9% +13.3%
Note:
Net fund based income includes “Head Office & Others” income of RM298.2 million for FY2019 and expenditure of RM164.8 million for FY2020.
Net fee based income includes “Head Office & Others” expenditure of RM883.8 million for FY2019 and RM386.7 million for FY2020.
P&L Summary: QoQ
27
RM million4Q
FY2020
3Q
FY2020
2Q
FY2020
1Q
FY2020
Net fund based income 4,337.5 4,128.3 3,840.3 4,344.5
Net fee based income 1,975.2 1,949.5 1,808.3 2,379.7
Net operating income 6,312.7 6,077.8 5,648.5 6,724.2
Overhead expenses (2,892.4) (2,704.4) (2,706.3) (2,942.0)
Personnel Costs 1,610.7 1,581.5 1,644.0 1,727.0
Establishment Costs 493.5 482.5 458.4 458.0
Marketing Expenses 105.8 84.1 76.5 108.7
Administration & General Expenses 682.4 556.2 527.4 648.3
Pre-provisioning operating profit (PPOP)1 3,420.3 3.373.4 2,942.2 3,782.2
Net impairment losses (1,499.3) (805.9) (1,740.7) (1,024.3)
Operating profit 1,921.0 2,567.5 1,201.5 2,757.9
Profit before taxation and zakat (PBT) 1,992.1 2,611.3 1,255.7 2,797.8
Net Profit 2 1,537.4 1,952.4 941.7 2,049.7
EPS - Basic (sen) 13.7 17.4 8.4 18.2
Note:
¹ Pre-provisioning operating profit (PPOP) is equivalent to operating profit before impairment losses
² Net Profit is equivalent to profit attributable to equity holders of the Bank
Income Statement for Insurance and Takaful Business
28
RM million FY2020 FY2019 YoY 4Q FY2020 3Q FY2020 2Q FY2020 1Q FY2020 QoQ
Net interest income 1,260.1 1,286.2 (2.0)% 318.0 310.7 315.9 315.4 2.4%
Net earned premiums 9,458.9 6,760.6 39.9% 2,782.8 2,990.3 1,740.9 1,944.9 (6.9)%
Other operating income 804.6 1,546.8 (48.0)% 72.4 509.9 1,016.9 (794.7) (85.8)%
Total operating income 11,523.5 9,593.6 20.1% 3,173.3 3,810.9 3,073.7 1,465.7 (16.7)%
Net insurance benefits & claims incurred, net fee &
commission expenses, change in expense liabilities and
life & takaful fund tax
(9,559.6) (7,683.6) 24.4% (2,527.2) (3,344.5) (2,519.9) (1,168.0) (24.4)%
Net operating income 1,963.9 1,910.0 2.8% 646.1 466.4 553.8 297.6 38.5%
Overhead expenses (932.7) (930.1) 0.3% (245.7) (224.8) (222.2) (240.1) 9.3%
PPOP 1,031.2 979.9 5.2% 400.4 241.6 331.6 57.6 65.7%
Net impairment losses (21.2) (35.0) (39.4)% 0.6 (9.0) (6.1) (6.8) (>100)%
Operating profit 1,010.0 944.9 6.9% 401.0 232.6 325.6 50.8 72.4%
RM million FY2020 FY2019 YoY 4Q FY2020 3Q FY2020 2Q FY2020 1Q FY2020 QoQ
Net insurance benefits & claims incurred, net fee &
commission expenses, change in expense liabilities and
life & takaful fund tax
(9,559.6) (7,683.6) 24.4% (2,527.2) (3,344.5) (2,519.9) (1,168.0) (24.4)%
Less: intercompany elimination 338.8 312.3 8.5% 98.3 107.7 50.6 82.2 (8.7)%
Total net insurance benefits & claims incurred, net fee
& commission expenses, change in expense liabilities
and life & takaful fund tax
(9,220.8) (7,371.3) 25.1% (2,428.9) (3,236.9) (2,469.2) (1,085.8) (25.0)%
Reconciliation of net insurance benefits & claims incurred, net fee & commission expenses, change in expense liabilities and life & takaful
fund tax
Group Gross Loans Growth: 31 December 2020
29
% of
Portfolio
31 Dec
2020
30 Sep
2020QoQ
30 Jun
2020
31 Mar
2020
31 Dec
2019YoY
Group Gross Loans 523.7 521.8 0.4% 520.2 518.4 523.5 0.0%
Malaysia (RM billion) 62% 326.7 324.2 0.8% 316.1 314.3 314.1 4.0%
Community Financial Services (reported) 76% 247.0 243.2 1.6% 234.6 231.7 231.3 6.8%
Community Financial Services (rebased)¹ 76% 247.0 243.2 1.6% 234.6 231.7 231.0 6.9%
Global Banking (reported) 24% 79.6 80.8 (1.5)% 81.0 82.4 82.7 (3.8)%
Global Banking (rebased)¹ 24% 79.6 80.8 (1.5)% 81.0 82.4 82.9 (4.1)%
International (RM billion) 36% 189.9 189.8 0.1% 198.1 199.1 203.0 (6.4)%
Singapore (SGD billion) 64% 40.0 38.6 3.6% 38.9 40.2 40.7 (1.9)%
Community Financial Services 58% 22.6 21.9 3.3% 21.8 21.9 22.1 2.2%
Global Banking 42% 16.3 16.4 (0.9)% 17.0 18.2 18.5 (11.8)%
Indonesia (IDR trillion) 16% 108.2 112.7 (4.0)% 119.5 128.1 127.0 (14.8)%
Community Financial Services 66% 71.5 74.6 (4.0)% 80.9 88.6 91.3 (21.6)%
Global Banking 34% 36.4 37.9 (4.0)% 38.4 39.3 35.5 2.3%
Other markets (RM billion) 20% 37.6 41.3 (8.8)% 42.7 43.6 41.7 (9.8)%
Investment banking (RM billion) 2% 7.1 7.8 (9.7)% 6.0 5.0 6.4 9.8%
Note:
¹ Rebased loan growth figures are based on adjusted 31 December 2019 position in line with migration of client accounts, effective 1 January 2020
Malaysia Loans Growth: 31 December 2020
30
RM billion% of
Portfolio
31 Dec
2020
30 Sep
2020QoQ
30 Jun
2020
31 Mar
2020
31 Dec
2019YoY
Community Financial Services (reported) 76% 247.0 243.2 1.6% 234.6 231.7 231.3 6.8%
Community Financial Services (rebased)¹ 76% 247.0 243.2 1.6% 234.6 231.7 231.0 6.9%
Consumer 61% 199.2 196.4 1.5% 189.3 187.9 186.9 6.6%
Total Mortgage 33% 108.1 105.6 2.3% 102.4 100.5 97.7 10.6%
Auto Finance 16% 52.8 52.3 1.1% 49.4 49.4 49.6 6.5%
Credit Cards 2% 7.1 7.1 (0.2)% 6.7 7.2 7.8 (9.0)%
Unit Trust 9% 29.2 29.2 0.0% 28.7 28.5 29.5 (1.1)%
Other Retail Loans 1% 2.1 2.2 (5.6)% 2.2 2.3 2.3 (10.4)%
Business Banking + SME (reported) 15% 47.8 46.8 2.1% 45.3 43.8 44.4 7.6%
Business Banking + SME (rebased)¹ 15% 47.8 46.8 2.1% 45.3 43.8 44.1 8.2%
SME (reported) 7% 21.7 20.9 3.9% 20.0 19.0 19.1 13.9%
SME (rebased)¹ 7% 21.7 20.9 3.9% 20.0 19.0 18.8 15.9%
Business Banking (reported) 8% 26.0 25.9 0.6% 25.2 24.8 25.3 2.8%
Business Banking (rebased)¹ 8% 26.0 25.9 0.6% 25.2 24.8 25.4 2.6%
Global Banking (Corporate) (reported) 24% 79.6 80.8 (1.5)% 81.0 82.4 82.7 (3.8)%
Global Banking (Corporate) (rebased)¹ 24% 79.6 80.8 (1.5)% 81.0 82.4 82.9 (4.1)%
Total Malaysia 326.7 324.2 0.8% 316.1 314.3 314.1 4.0% Note:
¹ Rebased loan growth figures are based on adjusted 31 December 2019 position in line with migration of client accounts, effective 1 January 2020
Group Deposits Growth: 31 December 2020
31
% of
Portfolio
31 Dec
2020
30 Sep
2020QoQ
30 Jun
2020
31 Mar
2020
31 Dec
2019YoY
Group Gross Deposits 580.2 593.2 (2.2)% 573.3 543.8 565.3 2.6%
Malaysia (RM billion) 61% 355.7 367.8 (3.3)% 355.4 336.7 351.5 1.2%
Savings Deposits 16% 56.8 56.0 1.4% 54.5 48.8 45.0 26.2%
Current Accounts 31% 109.6 117.1 (6.4)% 103.0 97.8 91.0 20.4%
Fixed Deposits 33% 116.3 125.7 (7.4)% 125.2 129.9 133.8 (13.0)%
Others 20% 72.9 69.0 5.7% 72.7 60.2 81.7 (10.8)%
International 39% 225.6 226.8 (0.5)% 219.3 210.0 214.7 5.1%
Singapore (SGD billion) 69% 51.6 52.5 (1.6)% 48.8 47.2 48.3 6.9%
Savings Deposits 17% 8.6 8.3 4.3% 8.9 7.8 7.9 8.8%
Current Accounts 21% 10.7 9.6 11.9% 7.7 6.6 6.1 75.2%
Fixed Deposits 62% 32.3 34.6 (6.7)% 32.2 32.8 34.3 (5.8)%
Indonesia (IDR trillion) 15% 115.1 116.7 (1.3)% 105.9 117.4 110.9 3.8%
Savings Deposits 19% 21.2 21.3 (0.7)% 21.5 21.9 21.0 1.1%
Current Accounts 21% 24.5 24.8 (1.3)% 20.8 21.7 19.5 25.6%
Fixed Deposits 60% 69.4 70.5 (1.6)% 63.7 73.7 70.4 (1.4)%
92.4%95.2%
90.6%87.8% 90.1%
35.5%38.4% 40.2% 42.1% 42.8%
33.2%35.1%
37.3%39.1%
39.6%
Dec 19 Mar 20 Jun 20 Sep 20 Dec 20
LDR CASA CASA (without IA)
84.3% 85.2%79.9%
73.5% 77.4%
29.1% 30.5% 34.0% 34.0% 37.5%
Dec 19 Mar 20 Jun 20 Sep 20 Dec 20
LDR and CASA Ratio
32
Indonesia
Malaysia
90.0% 93.9% 89.4% 88.7% 92.5%
38.7%43.6% 44.3% 47.1% 46.8%
34.9%38.2% 39.7% 42.3% 41.7%
Dec 19 Mar 20 Jun 20 Sep 20 Dec 20
Singapore
Group
111.3% 106.3% 109.9%
94.1% 91.5%
36.5% 37.2% 39.9% 39.5% 39.7%
94.1%89.7% 94.2%
80.7% 79.3%
Dec 19 Mar 20 Jun 20 Sep 20 Dec 20
LDR (Bank Level)
Note:
• Group and Indonesia LDR excludes loans to banks and FIs
• Group and Malaysia LDR include investment accounts totaling RM23.84 billion for 31 Dec 2020, RM23.48 billion for 30 Sep 2020, RM22.54 billion for 30 Jun 2020, RM24.50 billion for 31 Mar 2020, RM20.74 billion
for 31 Dec 2019.
523.5 521.8 523.7
Dec 19 Sep 20 Dec 20
Borrowings, 5%
Capital Instruments, 2%
Customer Funding, 77%
FI Deposits, 5%
Equity, 11%
310.3 315.0 326.8
27.3 26.2
33.2
42.9 43.4
43.6
Operational RWA Market RWA
Credit RWA Gross Loans
RWA Optimisation and Funding Management
33
USD, 36%
RM, 28%
JPY, 12%
HKD, 7%
IDR, 6%
THB, 3%AUD, 2%SGD, 2%
Others, 4%
Funding Breakdown
Note:
• Customer Funding comprises Deposits from Customers & Investment Accounts of Customers.
By maturity:
≤ 1 Year 27%
> 1 Year 73%
Borrowings and
Capital Instruments
by Currency
Group Gross Loans & Group RWA
RM
bill
ion
Growth (%) YoY QoQ
Group Gross Loans 0.0% 0.4%
Total Group RWA 6.1% 4.9%
- Group Credit RWA 5.3% 3.7%
380.4 384.6
403.6
RM752.4
billion
RM49.9
billion
Key Operating Ratios
34
% FY2020 FY2019 YoY4Q
FY2020
3Q
FY2020QoQ
2Q
FY2020
1Q
FY2020
4Q
FY2019YoY
Return on Equity 4 8.1 10.9 (2.8)% 7.7 9.7 (2.0)% 4.7 10.6 13.0 (5.3)%
Net Interest Margin 4 (bps) 2.10 2.27 (17) bps 2.15 2.05 10 bps 1.96 2.23 2.29 (14) bps
Fee to Income Ratio 32.8 29.2 3.6% 31.3 32.1 (0.8)% 32.0 35.4 30.4 0.9%
Loans-to-Deposit Ratio 1 90.1 92.4 (2.3)% 90.1 87.8 2.3% 90.6 95.2 92.4 (2.3)%
Cost to Income Ratio 2 45.4 46.7 (1.3)% 45.8 44.5 1.3% 47.9 43.7 45.7 0.1%
Asset Quality
Gross Impaired Loans Ratio 2.23 2.65 (42) bps 2.23 2.35 (12) bps 2.49 2.71 2.65 (42) bps
Loans Loss Coverage 106.3 77.3 29.0% 106.3 97.6 8.7% 90.5 81.5 77.3 29.0%
Net Charge Off Rate 4 (bps) (88) (44) (44) bps (84) (61) (23) bps (133) (73) (26) (58) bps
Capital Adequacy 3
CET1 Capital Ratio 14.73 14.58 15 bps 14.73 15.28 (55) bps 15.43 14.79 14.58 15 bps
Total Capital Ratio 18.10 18.23 (13) bps 18.10 18.89 (79) bps 19.04 18.50 18.23 (13) bps
Note:1 LDR excludes loans to banks and FIs.2 Total cost excludes amortisation of intangibles for Maybank Indonesia and Maybank Kim Eng.3 The capital ratios are based on an assumption of 85% reinvestment rate for periods relating to dividends under DRP, and based on full cash payment of dividends for period without DRP.4 Quarterly positions of Return on Equity, Net Interest Margin and Net Charge Off Rate are on an annualised basis
Executive Summary 2
4Q & Full Year FY2020 Financial Performance 8
Prospects & Outlook 21
Appendix:
1. Financial Performance 24
2. Community Financial Services 36
3. Global Banking 39
4. Maybank Singapore 42
5. Maybank Indonesia 45
6. Other Segments 48
Table of Contents
36
Community Financial Services: Overview of Market Share for Malaysia
Note:
* Refers to housing, shophouse and other mortgage loans
** Credit cards market share refer to receivables for commercial banks
*** Total bank deposits inclusive of investment asset (“IA”)∑ Industry number from ABM
^ Without IA. With IA, the market share as at Dec’20 for Total Core Retail Deposits , Retail CASA, Retail
Savings, Demand Deposits and Retail Fixed Deposits are 17.9%, 26.6%, 28.1%, 23.9% and 13.8%
respectively (against MBB retail IA)
^^ Excluding non-financial transactions as per BNM guidelines
Loans
Total consumer (Household) 17.7% 17.8% 17.9% 18.1% 18.1%
Auto (Hire Purchase + Block Discounting + Floor Stocking) 29.6% 29.7% 30.3% 30.4% 30.4%
Total mortgage * 14.0% 14.2% 14.3% 14.4% 14.5%
Credit cards ** 18.6% 18.6% 18.5% 19.3% 19.3%
Unit trust 48.5% 49.8% 49.7% 49.2% 48.9%
Deposits
Total deposits *** 17.8% 17.5% 17.6% 17.4% 17.1%
Total core retail deposits ^ 16.5% 16.9% 17.4% 17.5% 17.6%
Retail CASA ^ 24.3% 25.3% 25.7% 25.3% 25.2%
Retail savings ^ 27.8% 28.1% 28.7% 28.4% 28.0%
Demand deposits ^ 18.2% 19.9% 19.8% 19.3% 19.7%
Retail fixed deposits ^ 12.8% 12.7% 12.9% 13.0% 13.0%
Channels
Internet banking - Subscriber base 39.6% 39.1% 40.3% 39.9% 39.5%
Mobile banking - Subscriber base 31.3% 32.6% 31.9% 31.4% 30.9%
Internet banking - Transaction Volume ^^ 51.0% 50.5% 50.1% 50.0% 49.8%
Mobile banking - Transaction Volume 63.0% 62.9% 62.7% 61.9% 60.7%
Branch network ∑ 19.4% 19.4% 19.4% 19.4% 19.3%
Dec-20Sep-20Mar-20Dec-19Market share Jun-20
Community Financial Services: Overview of Malaysia Portfolio
37
215.5234.5 239.4
Dec 19 Sep 20 Dec 20
6.01
6.75
Dec 19 Dec 20
3.764.80
Dec 19 Dec 20
138.9 153.3 154.7
65.4 66.3 69.0
Dec 19 Sep 20 Dec 20
Consumer BB + RSME
204.3 219.6
Wealth Management segment’s TFA grew 11.1% YoY
to RM239.4 billion
Total CFS loans on an upward trend of 6.8% YoY and
1.6% QoQ
+1.9% QoQ
Total CFS deposits increased by 9.5% YoY driven by CASA
growth of 22.6%
+9.5% YoY
Maybank2u 1-month active users grew 12.5% YoY driven by
mobile users growth
186.9 196.4 199.2
44.4 46.8 47.8
Dec 19 Sep 20 Dec 20
Consumer BB + RSME
247.0
+1.6% QoQ
+6.8% YoY
+11.1% YoY
+2.1% QoQ
+27.6% YoY
+12.5% YoY
M2u 1-month active users
of which Mobile 1-month
active users
231.3 243.2223.8
Note:
• TFA: Total Financial Assets (Deposits, Investments, Financing & Protection).
• TFA for total Individual customers (excl. NPL) amounted to RM357.8 billion as at Dec’20,
RM352.8 billion as at Sep’20 and RM327.7 billion as at Dec’19.
RM
billion
RM
billion
RM
billion
RM
billion
Executive Summary 2
4Q & Full Year FY2020 Financial Performance 8
Prospects & Outlook 21
Appendix:
1. Financial Performance 24
2. Community Financial Services 36
3. Global Banking 39
4. Maybank Singapore 42
5. Maybank Indonesia 45
6. Other Segments 48
Table of Contents
10.8
25.1
46.7
9.8
21.6
49.3
9.9
21.2
48.4
Dec 20 Sep 20 Dec 19
51.1 52.9 63.2 60.7 65.2
52.5 51.454.0 59.3 54.0
60.0 55.157.2 58.5 60.6
20.7 24.2
23.828.3 28.08.5 5.9
5.97.3 7.4
Dec 19 Mar 20 Jun 20 Sep 20 Dec 20
Govt. Securities - Domestic Govt. Securities - Foreign
PDS/Corp Bonds - Domestic PDS/Corp Bonds - Foreign
Others
Global Banking: Overview of Malaysia Corporate Banking and Group Securities Portfolio
39
Note:
- ‘Term Loan’ includes foreign currency denominated accounts, while ‘Trade Finance and Others’ is
combined with ‘Overdraft’
- Trade Finance market share as at Dec’20 is 21.8%
Total Corporate Banking loans in Malaysia decreased 3.8%
YoY to RM79.6 billion
RM billion
Term Loan
Short Term
Revolving
Credit
Trade
Finance
and Others
+3.6% YoY
Group Securities Portfolio¹ grew 11.6% YoY
Note:
¹ Group Securities Portfolio is inclusive of Financial assets designated upon initial
recognition (part of FVTPL)
+11.6% YoY
192.8189.5
204.1214.1 215.2
RM
billion
(15.3)% YoY
(8.7)% YoY
Global Banking: Overview of Group Investment Banking Portfolio
40
FY2020 Fee-based Income for MalaysiaFY2020 Total Income Breakdown by Country
FY2020 Brokerage Market Share by Country
Country Rank Market ShareTrading Value
(USD billion)
Malaysia 5 8.8% 46.3
Singapore 11 3.8% 20.6
Thailand 2 6.3% 60.1
Indonesia 6 4.7% 14.8
Philippines 9 4.0% 2.9
Hong Kong Tier 3 0.1% 10.2
Vietnam >10 2.6% 4.0
Note:
¹ Maybank Kim Eng represents the combined business of Maybank IB and business segments under Maybank Kim Eng Holdings.
Malaysia52%
Singapore23%
Indonesia5%
Philippines1%
Thailand12%
HongKong3%
Others4%
RM1,528.1
million
Arranger's Fees23%
Underwriting & Placements
Fees7%
Brokerage Fee47%
Agency/Guarantee Fees4%
Advisory Fee4%
Other Fee Income
15%
Executive Summary 2
4Q & Full Year FY2020 Financial Performance 8
Prospects & Outlook 21
Appendix:
1. Financial Performance 24
2. Community Financial Services 36
3. Global Banking 39
4. Maybank Singapore 42
5. Maybank Indonesia 45
6. Other Segments 48
Table of Contents
Maybank Singapore: P&L Summary
42
Income of SGD977 million was 14.1% lower YoY largely due to lower fund based income but partially offset by fee based income growth.
Fund based income decline of 27.1% was largely impacted from lower interest rates and slower lending activities, leading to a lower loans to deposit ratio in
recent quarters.
NOII growth was aided by gains on investment sales as well as wealth management and credit related fees, which picked up significantly over the last quarter
following the easing of activities from the lockdown in Singapore.
Overheads of SGD466 million was marginally higher YoY largely due to the additional BCP related expenses incurred during the year.
Profit before taxation of SGD184 million was significantly higher due to a reduction in impairment losses YoY. Notwithstanding, additional management overlay
allowance were provided during the year to take on the impact from the weakening of MEVs amid the pandemic.
SGD million FY2020 FY2019 YoY 4Q FY2020 3Q FY2020 QoQ
Net fund based income 555.17 761.13 (27.1)% 125.54 116.40 7.9%
Net fee based income 421.57 376.39 12.0% 131.27 100.38 30.8%
Net income 976.74 1,137.52 (14.1)% 256.81 216.78 18.5%
Overhead expenses (465.69) (454.76) 2.4% (117.44) (111.57) 5.3%
Operating profit 511.05 682.76 (25.1)% 139.37 105.21 32.5%
Profit/ (Loss) before taxation 183.66 8.41 >100% 80.30 17.53 >100%
7.9 8.3 8.6
6.1 9.6 10.7
34.3 34.6 32.3
Dec 19 Sep 20 Dec 20
Time Deposits
Demand Deposits
Savings
43
Maybank Singapore: Overview of Loans and Deposits Portfolio
5.3 8.2 9.1
15.918.2 16.4
8.89.7 10.2
18.3 16.5 16.0
Dec 19 Sep 20 Dec 20
Consumer - TimeDeposits
Consumer CASA
Business TimeDeposits
Business CASA
51.6
Diversified Loan Portfolio
-3.9% -5.6%-9.1%
-7.8% -1.9%
4.2% 8.3%2.1%
-0.2% -1.2%
Dec 19 Mar 20 Jun 20 Sep 20 Dec 20
Maybank Singapore Growth Industry Growth
Consumer
50.7%
Corporate
49.3%
Consumer deposits increased to 50.7% of total deposits
CASA Ratio: 37.5%
SG
D b
illion
CASA ratio higher at 37.5% from 29.1% in December 2019, on
expanded demand deposits, from both corporates and individuals.
Business deposits expanded SGD4.3 billion YoY, contributed mainly by demand
deposits.
Consumer CASA deposits grew, while fixed deposits declined.
52.548.3
Maybank Singapore’s loans portfolio saw a decline due to slowdown
in business activities, in line with the industry
+6.9% YoY
SG
D b
illion
% YoY change
SGD Billion% of
Portfolio
31 Dec
2020
30 Sep
2020QoQ
31 Dec
2019YoY
CFS 58% 22.6 21.9 3.3% 22.1 2.2%
Consumer 42% 16.4 15.8 4.0% 16.0 2.5%
Housing Loan 28% 11.0 10.5 5.1% 10.6 3.9%
Auto Loan 6% 2.3 2.3 1.1% 2.4 (5.4)%
Cards 1% 0.3 0.3 6.7% 0.4 (14.9)%
Others 7% 2.8 2.7 1.9% 2.6 6.9%
Non-Individuals 16% 6.2 6.1 1.6% 6.1 1.6%
RSME 4% 1.7 1.7 4.0% 1.5 18.0%
Business Banking 8% 3.2 3.2 1.5% 3.2 1.7%
Others 4% 1.3 1.3 (1.1)% 1.5 (14.7)%
Global Banking 42% 16.3 16.4 (0.9)% 18.5 (11.8)%
Total 100% 40.0 38.6 3.6% 40.7 (1.9)%
Executive Summary 2
4Q & Full Year FY2020 Financial Performance 8
Prospects & Outlook 21
Appendix:
1. Financial Performance 24
2. Community Financial Services 36
3. Global Banking 39
4. Maybank Singapore 42
5. Maybank Indonesia 45
6. Other Segments 48
Table of Contents
Maybank Indonesia: P&L Summary
45
IDR billion FY2020 FY2019 YoY4Q
FY2020
3Q
FY2020QoQ
Net Fund Based income 7,260 8,168 (11.1)% 1,647 1,677 (1.8)%
Net Fee Based income 2,379 2,587 (8.0)% 650 546 18.9%
Net income 9,639 10,755 (10.4)% 2,297 2,223 3.3%
Overhead expenses (5,713) (6,397) (10.7)% (1,295) (1,381) (6.2)%
Personnel (2,536) (2,571) (1.3)% (596) (622) (4.3)%
General and Administrative (3,176) (3,826) (17.0)% (699) (758) (7.8)%
Operating profit 3,927 4,358 (9.9)% 1,001 842 18.9%
Provisions Expenses (2,076) (1,781) 16.5% (630) (435) 44.8%
Non Operating Income/(Expense) (32) 22 (>100)% (6) (19) (66.7)%
Profit Before Tax and Non-Controlling Interest 1,819 2,599 (30.0)% 365 388 (5.9)%
Tax and Non-Controlling Interest (552) (757) (27.0)% (198) (99) >100%
Profit After Tax and Non-Controlling Interest 1,266 1,843 (31.3)% 167 289 (42.2)%
EPS - Basic (IDR) 16.62 24.18 (31.3)% 2.20 3.80 (42.2)%
Maybank Indonesia: Financial Ratios and Loans Portfolio Breakdown
46
Key Operating Ratios Loans Portfolio Breakdown
Key Operating Ratio Dec-20 Sep-20 Dec-19 YoY
Profitability & Efficiency
Return On Assets 1.04% 1.11% 1.45% (0.40)%
Return On Equity (Tier 1) 5.13% 6.00% 7.73% (2.60)%
Net Interest Margin 4.55% 4.69% 5.07% (0.51)%
Cost to Income Ratio 59.26% 60.16% 59.48% (0.22)%
Asset Quality
NPL - Gross 4.00% 4.34% 3.33% 0.67%
Liquidity & Capital Adequacy
LCR 212.63% 184.60% 146.49% 66.14%
CET1 22.80% 21.85% 19.54% 3.26%
CAR 24.31% 23.47% 21.38% 2.94%
IDR Trillion% of
Portfolio
31 Dec
2020
30 Sep
2020QoQ
31 Dec
2019YoY
CFS 67% 70.8 73.9 (4.1)% 90.5 (21.7)%
CFS Retail 32% 34.0 35.1 (3.1)% 42.2 (19.3)%
Auto Loan 16% 16.8 18.0 (6.8)% 23.5 (28.5)%
Mortgage 13% 14.0 14.0 0.3% 15.0 (6.4)%
CC + Personal Loan 3% 2.7 2.6 3.2% 3.2 (17.6)%
Other loans 0% 0.5 0.5 3.8% 0.4 13.1%
CFS Non-Retail 35% 36.8 38.7 (5.1)% 48.3 (23.8)%
Business Banking 17% 17.7 19.0 (6.7)% 25.3 (30.0)%
SME+ 4% 4.0 4.2 (5.8)% 5.1 (21.7)%
RSME 14% 15.1 15.6 (2.9)% 17.9 (15.7)%
Global Banking 33% 34.5 35.6 (3.1)% 32.1 7.4%
Total 105.3 109.4 (3.8)% 122.6 (14.1)%
Note: Maybank Indonesia’s loans breakdown is mapped in accordance to its local
regulatory reporting requirements.^ LCR is disclosed on a quarter-end basis
Executive Summary 2
4Q & Full Year FY2020 Financial Performance 8
Prospects & Outlook 21
Appendix:
1. Financial Performance 24
2. Community Financial Services 36
3. Global Banking 39
4. Maybank Singapore 42
5. Maybank Indonesia 45
6. Other Segments 48
Table of Contents
RM million FY2020 FY2019 YoY
Total Income 5,357.1 5,103.0 5.0%
Profit Before Tax 2,328.2 3,800.4 (38.7%)
Financing & Advances 220,230.5 206,714.2 6.5%
Deposits & Investment Account: 202,392.8 191,887.5 5.5%
Deposits from Customers 178,552.0 171,149.8 4.3%
Investment Account 23,840.8 20,737.7 15.0%
Maybank Islamic, 62.6%
Maybank Conventional,
Malaysia, 37.4%
Islamic Banking: Performance Overview
48
Group Islamic Banking Financial Performance
Maybank Islamic: Key Financial Ratios
Key Financial Ratios FY2020 FY2019
Total Capital Ratio (TCR) 18.06% 18.55%
Net Profit Margin (YTD) 1.73% 1.75%
Cost to Income Ratio (CIR) 33.4% 36.3%
Direct FDR1 95.3% 96.1%
Note:
¹ Direct Financing to Deposits Ratio (FDR) comprising gross financing against deposit and Unrestricted
Investment Account (exc. RPSIA assets and liabilities)
Maybank Islamic: Total Gross Financing grew to RM206.7 billion
Note: Figures are as per latest segmentation breakdown
Year Contribution
Dec 2019 60.7%
Mar 2020 61.3%
Jun 2020 61.7%
Sep 2020 62.2%
Dec 2020 62.6%
Maybank Islamic Contribution to Maybank Malaysia Loans
and Financing as at December 2020
36.7
54.2
42.2
7.9
30.4
20.7
41.7
61.5
45.7
7.7
30.7
19.4
AITAB Mortgage Term Financing Others (CFS) Term Financing Others (GB)
Dec-19
Dec-20
8%
RM
billion
1%
(6)%
CFS:11% GB: (2)%
(3)%
14%
14%
Islamic Banking: Market Share
49
Key Products Dec 20 Dec 19
Automobile Financing 48.5% 47.7%
Home 26.9% 26.3%
Term financing 27.4% 28.6%
Maybank Islamic ranks No.1 by Asset Market Share in Malaysia
Market Share by Product (Malaysia) Maybank Islamic Market Share
31.1% 30.9% 30.7% 30.8% 30.8%
27.8% 27.6% 27.9%28.9%
27.0%
Dec 19 Mar 20 Jun 20 Sep 20 Dec 20
Financing Deposits & Investment Accounts
MalaysiaAsset Market Share
Sep 20Rank
Maybank Islamic 30% 1
CIMB Islamic 13% 2
RHB Islamic 9% 3
Source: Latest BNM Monthly Statistical Bulletin
Sukuk League Table Ranking December 2020
Source : Latest BNM Monthly Statistical Bulletin
Source: BloombergSource: Respective Bank’s Financial Statements
Global Sukuk League
Table Ranking
Market
Share (%)
Amount
(USD million)Issues
#3 Maybank 8.46% 5,328 151
MYR Sukuk League
Table Ranking
Market
Share (%)
Amount
(USD million)Issues
#1 Maybank 27.99% 5,024 148
Profit Before Tax
Insurance and Takaful: Performance Overview
50
Total Assets
Net Adjusted Premium/Contribution Life & Family (New Business) Market Share (Malaysia)
No. 1 in General
Insurance and Takaful
(Gross Premium)
General Insurance and Takaful Market Share (Malaysia)
Note: Market Share is for period Oct - Sep of every year (Source: LIAM / ISM Statistics)
No. 4 in Life/Family
(New Business)
*Net Adjusted Premium (NAP) = Life/Family Adjusted Premium (100% Regular Premium +10% Single
Premium/Credit/Group)+ Net Written Premium (General)
Note: Net Adjusted Premium, Profit Before Tax and Total Assets are as presented at EIH Group level
445.7 393.8
211.7 366.0
286.3 227.6
FY2019 FY2020
Life/Family General Shareholder's Fund
+4.6% YoY
943.6 987.4
RM
million 40.6
48.3
Dec 19 Dec 20
+18.9% YoY
RM
billion
8.9% 11.5% 10.8% 10.9%
14.5% 13.4% 13.6% 12.5%
13.6% 13.8% 16.9% 18.0%
21.5% 20.7% 19.3% 19.2%
2017 2018 2019 2020
AIA GE Prudential Etiqa
8.0% 7.7% 7.2% 6.8%
7.7% 7.4% 7.5% 7.7%
10.5% 10.4% 10.2% 11.1%
11.8% 11.7% 13.7% 14.1%
2017 2018 2019 2020
Etiqa Allianz AmGeneral2 HL-MSIG
0 1,000 2,000 3,000 4,000 5,000 6,000
Total General
Misc
Personal Accident
MAT
Motor
Fire
Total Life & Family
Group Premium
Credit Premium
Regular Premium
Single Premium
RM Million
FY2019
FY2020
>100%
11.2%
(24.3)%
18.6%
20.1%
(6.2)%
(6.1)%
(10.5)%
18.4%
98.9%
(0.2)%
11.1%Total Net Adjusted Premium
Humanising Financial Services
MALAYAN BANKING BERHAD14th Floor, Menara Maybank100, Jalan Tun Perak50050 Kuala Lumpur, MalaysiaTel : (6)03-2070 8833
www.maybank.com
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.
Top Related