KUALA LUMPUR: Malayan Banking Bhd (Maybank) recorded a net profit of RM2.06bil in the fourth quarter ended Dec 31, 2021, which was 33.79% higher than RM1.54bil in the previous corresponding quarter.

       The group reported revenue of RM11.26bil, 8.06% lower than RM12.24bil in 2020.

       The board declared a second interim dividend of 30 sen per share, bringing its full-year payout to 58 sen per share.

       In a bourse filing, Maybank said its net interest income and Islamic banking income for the quarter under review rose 12.7% to RM5.02bil a compared to the same quarter in 2020.

       The group's net earned insurance premiums from the insurance and Takaful subsidiaries decreased 22.1% year-on-year (y-o-y) to RM2.17bil.

       Meanwhile, other operating income decreased RM509.6mil to RM992.6mil from the previous comparative quarter due to lower unrealised mark-to-market gain on revaluation of financial investments at fair value through profit or loss (FVTPL), lower net gain on foreign exchange, investment income and lower fee income.

       The group's allowances for impairment losses decreased 85.6% to RM157.3mil as compared to the previous corresponding quarter.

       Over the 2021 financial year, Maybank recorded a net profit of RM8.1bil, which was 24.92% higher compared to RM6.48bil in 2020.

       It reported revenue of RM45.96bil in FY21, which was 9.94% lower than RM51.03bil in the previous year.

       On outlook, Maybank expects an improved 2022 driven by broader and sustained economic reopenings, easing of border controls and higher vaccination rates.

       "Although overall sustained economic recovery is expected in 2022, the Group anticipates that its return on equity for FY2022 will be similar to that of FY2021 and has set a Headline KPI of between 9.5% and 10%, taking into consideration the impact from the higher one-off Prosperity Tax announced by the federal government of Malaysia," said the group.