Malayan Banking Berhad First Quarter 2024 Earnings: Revenues Beat Expectations, EPS In Line

Malayan Banking Berhad (KLSE:MAYBANK) First Quarter 2024 Results

Key Financial Results

• Revenue: RM7.03b (up 17% from 1Q 2023).
• Net income: RM2.49b (up 9.8% from 1Q 2023).
• Profit margin: 35% (down from 38% in 1Q 2023). The decrease in margin was driven by higher expenses.
• EPS: RM0.21 (up from RM0.19 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Malayan Banking Berhad Revenues Beat Expectations

Revenue exceeded analyst estimates by 16%. Earnings per share (EPS) was mostly in line with analyst estimates.

Looking ahead, revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Banks industry in Malaysia.

Performance of the Malaysian Banks industry.

The company's share price is broadly unchanged from a week ago.

Valuation

It's possible that Malayan Banking Berhad could be overvalued with our 6-factor valuation analysis indicating potential weakness. Discover what analysts are forecasting and how the current share price shapes up by clicking here.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.