Investor Day 19 March 2013

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1 Investor Day 19 March 2013 Muzaffar Hisham Chief Executive Officer, Maybank Islamic Head, Group Islamic Banking

2 Table of Contents Introduction 3 About Maybank Islamic 9 Financial Performance 16 Prospects & Outlook 28

3 What is Islamic Banking? By definition in the Islamic Financial Services Act 2012: Islamic banking business means the business of 1. Accepting Islamic deposits on current account, deposit account, savings account or other similar accounts, with or without the business of paying or collecting cheques drawn by or paid in by customers; or 2. Accepting money under an investment account; and 3. Provision of finance; and For us in Malaysia, we are guided by the clear regulation of the Islamic Financial Services Act Governed by both key regulators i.e. Bank Negara Malaysia (BNM) and Security Commissions (SC). Key elements in Islamic Banking: 1. Prohibition of Usury Interest (Riba) 2. Prohibition of Ambiguity (Gharar) 3. Prohibition of impermissible activities such as gambling, selling of liquor, etc. 3

4 Milestones of Islamic Banking in Malaysia Rapid growth - accounting for almost [29]% of domestic banking assets; products offering at par with conventional; growing number of domestic and foreign players As an alternative banking, offering of plain-vanilla deposit and financing products Pilgrimage Fund Board /Tabung Haji was formed Establishment of Bank Islam (1 st Islamic Bank) Parliament passed IBA, 1983 Maybank the first to offer Islamic window BNM allowed the provision of Islamic banking through window operations Banks with Islamic banking windows allowed to convert to Islamic bank Issuance of 3 foreign Islamic bank licenses BNM launched Malaysia International Islamic Financial Centre (MIFC) and released new guidelines, including incentives Maybank Islamic commenced operations as Islamic subsidiary BNM further liberalised the Financial Sector (issuance of 2 new Islamic banking licenses; increase foreign ownership to 70%; and creation of Mega Islamic bank BNM s Financial Sector Blueprint Internationali sation of Islamic Finance 4

5 Malaysia s Banking Industry: Islamic Banking Growth Outstripping Conventional Banking Islamic financing will account for 40% of total financing in 2020 according to Bank Negara Malaysia 1,200 1, Share of Islamic finance of total financing (2010 vs. 2020) Conventional Islamic % 71% % DEPOSITS 25% 20% 15% 10% 5% 0% 60% 2020 Islamic Contribution (RHS) Conventional (RM Bil) Islamic (RM Bil) Islamic CAGR: 22% Conv. CAGR: 8% 1,600 1,400 1,200 1, LOAN & FINANCING ASSETS % 20% 15% 10% 5% 0% 20% 18% 16% 14% 12% 10% 8% 6% 4% 2% 0% Islamic Contribution (RHS) Conventional (RM Bil) Islamic (RM Bil) Islamic CAGR: 20% Conv. CAGR: 9% Islamic Contribution (RHS) Conventional (RM Bil) Islamic (RM Bil) Islamic CAGR: 21% Conv. CAGR: 9% Source: BNM 5

6 Malaysia s Ranking Leading the Way in Global Islamic Finance in 2012 Being one of the big 4 global centres in Islamic finance, Malaysia is well positioned to take advantage of the market opportunities. Other key Islamic finance centres include Saudi Arabia, United Arab Emirates and Kuwait Share of global Shariah banking assets* Rank Countries % 1 Saudi Arabia Malaysia UAE Kuwait Qatar 7.0 Global Sharia-compliant Assets KFH Research, 2012, Maybank Islamic analysis Share of outstanding Sukuk market Rank Countries % 1 Malaysia 64 2 UAE 9 3 Saudi Arabia 8 4 Qatar 7 5 Indonesia 6 Sukuk Issuance Zawya in Sukuk Review 2012 * The analysis above excludes Iranian banks 6

7 Six Main Thrusts Behind Malaysia s Success Story in Islamic Banking Sound legal and regulatory framework Strong vision and support from the central bank and government Wide range of products & services with certain key added advantage in tax and liquidity Conducive and clear Shariah framework Large number and diversified Islamic Finance players (local & foreign) Human capital development 7

8 Table of Contents Introduction 3 About Maybank Islamic 9 Financial Performance 16 Prospects & Outlook 28

9 One of Maybank Group s Key Strategic Pillars is Global Leadership in Islamic Finance By 2015 Our Vision To be a Regional Financial Services Leader Our Mission Humanising Financial Services Across Asia Providing people with convenient access to financing Having fair terms & pricing Advising customers based on their needs Being at the heart of community Strategic Objectives 1. Undisputed No. 1 Retail Financial Services provider in Malaysia by Leading ASEAN wholesale bank eventually expanding to Middle East, China & India 3. Undisputed Insurance & Takaful Leader in Malaysia & Emerging Regional Player 4. Truly regional organisation, with ~40% of pre-tax profit derived from international operations by Global Leader in Islamic Finance 9

10 Maybank: An Islamic Inspired Group MILESTONES In 1993, Maybank was the first Malaysian conventional commercial bank to offer Islamic financial services through a window concept. On 1 st January 2008, Maybank Islamic Berhad ( Maybank Islamic ) was incorporated as a wholly owned subsidiary of Maybank. As at December 2012, Maybank Islamic s products and services are available at 507 branches and various distribution channels nationwide, including 16 dedicated Islamic banking branches. OPERATING MODEL Maybank Islamic Banking Group ( MIBG ) is the Islamic banking arm of the Maybank Group. Maybank Islamic Berhad ( Maybank Islamic ) is a full fledged universal Islamic financial institution and offers comprehensive and differentiated products and services to our customers. The strength of collaboration across the House of Maybank around the globe through the leverage of the Group s policies, infrastructure and resources including distribution channels, IT system and platforms as well as front and back-office support operations has enabled Maybank Islamic Berhad ( Maybank Islamic ) to reap the benefits of economies of scale and reduced duplication of resources. ISLAMIC INSPIRED INTERNATIONAL EXPANSION Maybank Group CEO + Support (CFO, CRO,GHC, Legal, Compliance, Communications) Community Financial Services Global Wholesale Banking Insurance & Takaful Enterprise Transformation Services E N A B L E M E N T 10

11 Maybank Group Islamic Banking Business OVERVIEW ON INTERNATIONAL PRESENCE LOCATION PLATFORM PROFILE DISTRIBUTION CHANNEL MALAYSIA Maybank Islamic Berhad Maybank Investment -Window license INDONESIA BII (Unit Usaha Syariah) SINGAPORE International Currency Business Unit LABUAN INDONESIA Maybank Syariah Indonesia LONDON Subsidiary Window Window via Maybank Window via Maybank License granted to Maybank Islamic Window via Maybank Subsidiary Window via Maybank Universal Wholesale Universal Universal Wholesale Wholesale Branch: 1 Universal Wholesale Branch: 1 Branches: 16 full-fledged Islamic Branches & colocated across all 507 Maybank branches Maybank Group channels under Global Wholesale Banking Branches: 5 full-fledged Islamic branches; 107 window Head Office/ Islamic Banking Hub : Geylang Serai Branches: 22 (Qualifying Full Bank) Maybank Group channels under Global Wholesale Banking Branch: 1 full-fledge Islamic branch BAHRAIN Window via Maybank Wholesale Branch: 1 HONG KONG Window via Treasury Business Branch: 1 Maybank 11

12 Community Financial Services Products: Innovative Shariah Compliant Products in FY2012 Innovation and Shariah Compliance We continue to strive in providing innovative Shariah-compliant solutions for the benefits of our customers. The following are highlights of innovation in 2012: Extended our coverage of our unique Premier Mudharabah Account-i to the SME, Business Banking and Corporate segments; Launched the new variable rate of mortgage financing under the concept of Commodity Murabahah; Enhancement of our Ikhwan credit card offering via the Ikhwan Visa Infinite launch; Introduction of M2U Savers-i, an online savings account for customers convenience of opening, accessing and closing accounts from anywhere around the world. Through collaboration with Community Financial Services, various initiatives were organised, including nationwide events with the community at regions and branches. With clear performance tracking system and collaboration between Maybank Islamic and the Group, employees particularly frontliners are better equipped with knowledge and accountability on Islamic banking related matters to serve our customers better as well as contribute to growth of Islamic banking products and services. 12

13 Global Wholesale Banking Products: Innovative Solutions to Overcome Unique Challenges PROJEK LEBUHRAYA USAHASAMA BERHAD Up to MYR34.35 billion Islamic Medium Term Notes Programme and Government Guaranteed Islamic Medium Term Notes Programme Joint Lead Manager January 2012 EXPORT-IMPORT BANK OF MALAYSIA BERHAD USD 1,500,000,000 Multicurrency MTN Programme Joint Principal Adviser, Joint Arranger, Joint Bookrunner 2012 MALAYSIA AIRLINE SYSTEM BERHAD MYR 2,500,000,000 Perpetual Junior Sukuk Programme Sole Principal Adviser, Sole Lead Arranger, Sole Lead Manager June 2012 Sukuk Perumahan Kerajaan Government of Malaysia Up to MYR.2.6 billion Sukuk Murabahah Primary Subscriber July Malakoff Corporation Berhad MYR5, ,000 Corporate Reorganisation Exercise of the Group Sole Principal Adviser, Sole Lead Arranger, Sole Lead Manager December 2012 Felda Global Ventures Holdings Berhad MYR10, ,000 Initial Public Offering Joint Principal Advisers, Joint global coordinators, Joint Bookrunners, Joint Managing Underwrited, Joint Underwriters June SIME DARBY GLOBAL BERHAD USD 800,000,000 Multicurrency Sukuk Programme Joint Principal Adviser, Joint Lead Manager, Joint lead Arranger January 2013 Largest Sukuk in the World First multicurrency issuance by a Malaysian Development Finance Institution First perpetual Sukuk issuance by a corporate in Malaysia First of its kind Sukuk issued by the Govt. of Malaysia First corporate reorganisation exercise based on Islamic First concept Second biggest IPO in the world First Malaysian issuer and the first USD Sukuk in PROJEK LEBUHRAYA USAHASAMA BERHAD (UP TO MYR34.35 BILLION IMTN PROGRAMME AND GOVERNMENT GUARANTEED IMTN PROGRAMME) Largest global Sukuk issuance and Malaysia s single largest bond issuance EXPORT-IMPORT BANK OF MALAYSIA BERHAD (USD 1,500,000,000 MULTICURRENCY MTN PROGRAMME) First multicurrency issuance by a Malaysian Development Finance Institution MALAYSIA AIRLINE SYSTEM BERHAD (MYR 2,500,000,000 PERPETUAL JUNIOR SUKUK PROGRAMME) First perpetual Sukuk issuance by a corporate in Malaysia, and arguably the first perpetual Sukuk issuance by a corporate in the world SUKUK PERUMAHAN KERAJAAN - GOVERNMENT OF MALAYSIA (MYR.2.6 BILLION SUKUK MURABAHAH) First Sukuk of its type issued by the Government of Malaysia to fund the Government Housing Scheme which is accorded the same treatment as Malaysian Government Securities (MGS) MALAKOFF CORPORATION BERHAD (MYR5,600,000,000 CORPORATE REORGANISATION EXERCISE OF THE GROUP) First full-fledged corporate reorganisation exercise in Malaysia based on the Islamic First concept for all the transactions thereunder First Islamic loanstocks issuance and first conversion of conventional loanstocks into Shariah compliant loanstocks in Malaysia FELDA GLOBAL VENTURES HOLDINGS BERHAD (MYR10,000,000,000 (USD3.4 BILLION) INITIAL PUBLIC OFFERING) The largest IPO and equity offering in Malaysia for the year and also the second largest IPO globally as at the pricing date. SIME DARBY GLOBAL BERHAD (USD 800,000,000 MULTICURRENCY SUKUK PROGRAMME) First Malaysian issuer and the first Sukuk issuer globally to issue in the international USD debt capital markets in

14 Awards Won in 2012 Global Finance Magazine Awards 2012 World s Best Islamic Financial Institutions 2012 (Asia) World s Best Islamic Financial Institutions 2012 (Malaysia) KLIFF Islamic Finance Awards 2012 Most Outstanding Islamic Investment Bank Global Finance World s Best Islamic Financial Institution Awards 2012 Best Sukuk Bank Best Project Finance Financial Adviser (Asia) 2012 Global Financial Best Islamic Financial Institutions Awards 2012 Islamic Finance Deal of The Year Wakala Global Sukuk Berhad USD2.0 Billion Global Sukuk Certificates The Asset Triple A Asian Awards 2012 Best Islamic Trade Finance Bank Malaysia Best Islamic Retail Bank Malaysia The Asset Triple A Awards 2012 Best Islamic Deal of the Year / Best Sovereign Sukuk Wakala Global Sukuk Berhad - USD2.0 Billion Global Sukuk Certificates Best Islamic Deal, Malaysia Wakala Global Sukuk Berhad USD2.0 Billion Global Sukuk Certificates Best Corporate Sukuk 2012 Projek Lebuhraya Usahasama RM30.6 Billion Sukuk Best Islamic Restructuring Deal Pengurusan Aset Air Berhad RM5.8 Billion The Asset Triple A Country Award 2012 Best Islamic Equity Bumi Armada RM2.66 Billion 14

15 Table of Contents Introduction 3 About Maybank Islamic 9 Financial Performance 16 Prospects & Outlook 28

16 Maybank delivers on profitable and responsible growth strategies in 2012 Maybank records net profit of RM 5.7 billion, an increase of 17.6% YoY (FY2011: 16.6%) Superior shareholder value creation with ROE of 16.0% exceeding headline KPI of 15.6% Strengthened its domestic leadership with loans growing faster than industry's at 11.8% YOY Continued international expansion with overseas profit contribution growing to 30% (up 45.4% YoY) of Group profit. Maybank Singapore's PBT crossed RM1 billion mark whilst BII contributed RM554 million to Group PBT Maybank Islamic maintained its leadership with PBT of RM1.19 billion (up 25.0%) and total gross financing growing 18.3% to RM62.0 billion (representing 30.6% of Maybank Group's total domestic financing) Strong balance sheet with total assets of RM495 billion and RWCAR of 17.2% Asset quality continued to improve with Net Impaired Loans ratio of 1.09% and Loan Loss Coverage of 105.6% Final net dividend of 28.5 sen per share amounting to RM2.4 billion. This brings total FY2012 net dividend to RM4.29 billion representing a net dividend payout ratio of 74.7%. 16

17 Group Islamic Banking - Strong Fundamentals Group Islamic Banking Income and PBT* RM million FY12 FY11 * Group Islamic Banking includes Maybank Islamic and the Group s other Islamic operations ** Other operating income comprise of fee income and other income Maybank Islamic: Improving key ratios YoY Growth Fund based income 1, , % Other operating income ** % Total income 2, , % Allowance for losses on financing Profit before tax and zakat Financing to Deposit Ratio (Adjusted) Islamic Financing to Total Domestic Loans % 1, , % Dec-12 Dec % 83.7% 30.6% 28.5% Gross Impaired Financing Ratio 0.85% 1.62% RM billion Market Share Dec-12 Dec-11 AITAB*** 30.0% 31.6% Mortgage 21.4% 20.2% Term financing 23.3% 21.1% *** Includes financing sold to Cagamas Maybank Islamic: Total Gross Financing grew by 18.3% to RM62.0 bil +3% % % % Dec 11 Dec % % Net Impaired Financing Ratio 0.70% 1.03% AITAB Mortgage Financing Term Financing Others (CFS) Term Financing Others (GWB) CFS: +20% GWB: +14% 17

18 Maybank Islamic surpasses RM1 billion PBT mark, maintains leadership position for both financing & deposit Maybank Islamic PBT 1, , , , Dec - 09 Dec - 10 Dec - 11 Dec - 12 Maybank Islamic Contribution to MBB Domestic Financing as at December 2012 Maybank Islamic 69.4% MBB Domestic 30.6% Year Contribution Dec % Dec % Dec % Market Share Trend (Maybank Islamic vs Industry) 30.0% 26.1% 26.2% 25.0% 23.6% 24.5% 20.0% 22.1% 23.2% 15.0% 17.0% 14.8% 10.0% Dec-09 Dec-10 Dec-11 Dec-12 Financing Deposit Global Sukuk Market League Table Underwriter Rank Market Share (%) Amount (RM mil) Issues HSBC Bank PLC , CIMB , Maybank , Standard Chartered Bank , Am Investment Bank Bhd , Deutsche Bank AG , RHB , Citi , Qinvest Investment Banking , National Bank of Abu Dhabi ,

19 Maybank Islamic 5-Year Performance by Business Line: Financing Total Financing - Outstanding & Market Share RM Billion % 26.1% 26.2% % 35% 30% 25% 20% 15% 10% 5% 0% Automobile Financing RM Billion % 30.0% % % 35% 30% 25% 20% 15% 10% 5% 0% Outstanding Market Share Outstanding Market Share % Home Financing RM Billion In totality, volume expanded, market share progressed on rising track % 20.1% Outstanding Market Share % 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% Automobile Financing remained as industry leader & outpaced other portfolios despite Takaful mandatory issue in FY12. Home Financing recovered beginning 2009, with market share trending upwards narrowing the gap between competitors. Notes: 1. Financing portfolios include CFS and GWB 2. CAGR from 2006 to Sep

20 Maybank Islamic 5-Year Performance by Business Line: Deposits RM Billion % Total Deposit - Outstanding and Market Share % 12.9% % % 23.2% % 25% 20% 15% 10% 5% 0% RM Billion CASA - Outstanding & Market Share 25.7% 25.0% 24.5% 24.1% 24.9% % % 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% Outstanding Market Share Outstanding Market Share RM Billion % Term Deposit - Outstanding and Market Share 5.9% % % % 23.3% Outstanding Market Share 35% 30% 25% 20% 15% 10% 5% 0% Healthy growth during 2007 to 2012, albeit stiff competition. Total Deposit tripled, pushing back market share from low to satisfactory level. CASA grew steadily by volume, market share continued trending upwards. Sharp rise in Term deposit beginning 2008 contributed mainly by the introduction of PNA-i and IFD. Notes: 1. Deposit portfolios include CFS and GWB 2. CAGR from 2006 to Sep

21 Maybank Islamic Contribution to Maybank Group Maybank Islamic is well on the way towards achieving a one-third Islamic financing contribution to the Group s total domestic loans and advances by 2015, with the CONTRIBUTION AT 30.6% AS AT DECEMBER Profit Before Tax Customer Deposit Financing Total Assets Maybank Islamic Contribution to Maybank Group Maybank Islamic (RM1,190.1 mil) 85.1% 14.9% Maybank Islamic (RM71.0 bil) 79.5% 20.5% Maybank Islamic (RM61.1 bil) 80.7% 19.3% Maybank Islamic (RM90.6 bil) 81.7% 18.3% MBB Group (excluding Maybank Islamic) (RM6,778.5mil) MBB Group (excluding Maybank Islamic) (RM275.9bil) MBB Group (excluding Maybank Islamic) (RM256.2 bil) MBB Group (excluding Maybank Islamic) (RM404.3 bil) Maybank Islamic Contribution to Maybank Group - Domestic Maybank Islamic (RM1,190.1 mil) 74.6% 25.4% MBB Group Domestic (excluding Maybank Islamic) (RM3,493.7mil) Maybank Islamic (RM71.0 bil) 68.8% 31.2% MBB Group Domestic (excluding Maybank Islamic) (RM156.3 bil) Maybank Islamic (RM61.1 bil) 69.4% 30.6% MBB Group Domestic (excluding Maybank Islamic) (RM138.7 bil) Maybank Islamic (RM90.6 bil) 73.0% 27.0% MBB Group Domestic (excluding Maybank Islamic) (RM244.8 bil) 21

22 Competitive Analysis Profit Before Tax Maybank Islamic ranked 1st amongst Islamic Banks, double the profit from the nearest competitors Maybank Islamic ranked 2 nd if including Bank Rakyat (BNM deems Bank Rakyat as a cooperative bank) RM mil Key Competitors' PBT ,100 18% Competitor , % 13% 9% 80% 64% 40% -161% 45% Competitor 2 Competitor 3 Competitor 4 Competitor 5 Competitor 6 Competitor 7 Competitor 8 Note: 1. PBT of each bank is as at Dec12, except for Competitor 2, Competitor 4, Competitor 7 and Competitor 8 which are on an annualised basis. 2. PBT for Competitor 1 is based on its announcement through media, The Star, 14 March

23 Competitive Analysis Total Assets Maybank Islamic remained as the largest Islamic Bank in Malaysia & ahead of cooperative bank, Bank Rakyat largest Islamic RM Billion 100 Key Competitors' Total Asset CAGR % % Competitor Sep % 9% 18% 16% 21% 65% 19% Competitor 4 Competitor 2 Competitor 5 Competitor 3 Competitor 6 Competitor 7 Competitor 8 Note: Total Asset of each Bank is as at Dec 2012, except for Competitor 2, Competitor 4, Competitor 7 and Competitor 8 which are as at Sep12. 23

24 Competitive Analysis Total Financing Gaps from competitors against financing continues to widen Key Competitors' Total Financing RM Billion 70 CAGR % 13% Competitor % Competitor Sep % 12% 5% 24% 12% Competitor 5 Competitor 3 Competitor 2 Competitor 6 Competitor 7 34% Competitor 8 Note: 1. Position of each bank is as at Dec12 except for for Competitor 2, Competitor 4, Competitor 7 and Competitor 8 which are as at Sep 12 whilst position for Competitor 1 is based on its announcement through media, Malay Mail, 14 March Total Gross Financing includes financing sold to CAGAMAS. 24

25 Competitive Analysis Total Deposit Maybank Islamic s deposit is growing on strong momentum RM Billion Key Competitors' Total Deposit 80 CAGR % % Competitor Sep % 43% 25% 17% 22% 15% 25% Competitor 2 Competitor 4 Competitor 5 Competitor 3 Competitor 6 Competitor 7 Competitor 8 Note: 1. Position of each bank is as at Dec12 except for for Competitor 2, Competitor 4, Competitor 7 and Competitor 8 which are as at Sep Total deposit includes Special General Investment Account (SGIA). 25

26 Capital Efficiency Key Competitors Dec 2012 Total Asset (RM bil) Capital Efficiency Maybank Islamic Budgeted 31 Dec 2013 (Assets = RM92.3bil, Equity = RM5.0bil) Competitor Competitor 6 Competitor 5 Competitor 4 Competitor 3 Competitor Competitor Competitor Shareholders Funds (RM bil) Note: Total Asset & Shareholders Fund of each Bank is as at Dec 2012, except for Competitor 2, Competitor 4, Competitor 7 and Competitor 8 which are as at Sep12. 26

27 Table of Contents Introduction 3 About Maybank Islamic 9 Financial Performance 16 Prospects & Outlook 28

28 Islamic Banking Industry Outlook According to KFH Research, Islamic banking assets has an estimated asset size of USD1.1 trillion in 2011, representing 80.9% of Islamic finance assets worldwide. Based on a compounded annual growth rate (CAGR) of 21.1% between 2007 and 2011, Islamic banking assets reached USD1.3 trillion as at end-2012 and are expected to reach USD 1.5 trillion by end of At present, Islamic banking has become the fastest growing segment in the international financial system. The internationalization of Islamic finance offers the potential for further means by which cross border financial flows are intermediated between economies worldwide. The Islamic banking industry is not only confined to Muslim-majority countries such as the GCC and Malaysia but are also expanding into new territories such as the Far East and Europe, many of which are currently in the midst of implementing appropriate regulatory and legal reforms that would facilitate the provision of Islamic finance products. In Malaysia, Islamic financing is expected to account for 40% of total financing by 2020 according to BNM. As the largest Islamic bank in ASEAN, Maybank is well-positioned to capitalize on the opportunities of this fast-growing industry as we continue to build international platforms as we strive to pave way for further innovative cross-border financial flows across our network and presence in ASEAN and globally Source: KFH Research 28

29 THANK YOU

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