FINANCIAL STATEMENT ANALYSIS

FIN 658
COMPARATIVE STUDY
PUBLIC BANK BERHAD
&
MAYBANK
NBF6B
PN. NUR AFIZAH MUHAMAD ARIFIN
NAME STUDENT ID
MALISSA ZARINA ROSDEEN 2020773011
MOHD FADZZRAI AZMAN 2019325481
NUR ATIQAH ABD RAHMAN 2016582881
NUR HASBIYAH OSMAN 2019521135
NURUL SYUHAIDAH IDRIS 2019316629
SUBMISSION DATE
Table of Contents
A. EXECUTIVE SUMMARY.....................................................................................................................................1
B. INTRODUCTION OF THE COMPANY................................................................................................................2
 PUBLIC BANK...................................................................................................................................................2
 MAYBANK.........................................................................................................................................................2
i. INDUSTRY ANALYSIS.....................................................................................................................................3
 PUBLIC BANK...............................................................................................................................................3
 MAYBANK.....................................................................................................................................................3
ii. STRATEGY ANALYSIS....................................................................................................................................4
 PUBLIC BANK...............................................................................................................................................4
 MAYBANK.....................................................................................................................................................5
C. FINANCIAL ANALYSIS.......................................................................................................................................6
i. CASH FLOW ANALYSIS..................................................................................................................................6
 PUBLIC BANK...............................................................................................................................................6
 MAYBANK...................................................................................................................................................12
ii. FSA TOOLS......................................................................................................................................................20
 PUBLIC BANK.............................................................................................................................................20
 MAYBANK...................................................................................................................................................21
iii. FINANCIAL RATIOS ANALYSIS & INTERPRETION.............................................................................22
 PUBLIC BANK.............................................................................................................................................22
 PROFITABILITY......................................................................................................................................22
 LIQUIDITY...............................................................................................................................................25
 ASSET UTILIZATION & EFFICIENCY.................................................................................................31
 MAYBANK...................................................................................................................................................33
 PROFITIBILITY.......................................................................................................................................33
 LIQUIDITY...............................................................................................................................................37
 ASSET UTILIZATION & EFFICIENCY.................................................................................................43
D. CONCLUSION.....................................................................................................................................................45
E. RECOMMENDATION.........................................................................................................................................46
 A. EXECUTIVE SUMMARY.

This report is based on a comparative study of PUBLIC BANK & MAYBANK from year 2016 to 2020. We
were required to conduct a comprehensive study and prepare financial analysis for the chosen banks as
group assignment for the subject FIN 658 FINANCIAL STATEMENT ANALYSIS. This study is done with
the guide from Puan Nur Afizah Muhamad Arifin who is a senior lecturer from Faculty of Business and
Management, UiTM.

This report has been done by extracting information from the banks’ annual report year 2020. The annual
report for both banks are accessed through their main web page. The information is mostly extracted from
the financial statements and the notes given in the annual reports.

PUBLIC BANK – 2020 PUBLIC BANK ANNUAL REPORT.

MAYBANK – MAYBANK ANNUAL REPORT 2020.

This report is consisting of 4 areas;

 Introduction of the banks.

 Financial analysis.
 Conclusion.
 Recommendation.

The first area was analysed based on industry and strategy. Second area were analysed based on 3 areas such
as cash flow, financial statement analysis tools and lastly financial ratios. Third, conclusion was made by
identifying the strength and weakness of the banks based on the comparative study. Lastly,
recommendations were given based on the result of the comparative study. This report shown the banks’
activities, condition and performance during those years.

1
2
 B. INTRODUCTION OF THE COMPANY.
 PUBLIC BANK.

Tan Sri Dato’ Sri Dr. Tan Hong Piow founded Public Bank in 1966. The first branch was located at Jalan
Gereja, Kuala Lumpur. Public Bank started providing banking services to ordinary people in Malaysia with
its vision as a “bank for the people”. Public Bank was listed on the Kuala Lumpur Stock Exchange (now
known as Bursa Malaysia Securities Berhad) on 6 April 1967.

With total asset size of RM 451.26 billion as at the end of 2020, Public Bank is the third largest banking
group in Malaysia. The second largest company listed on Bursa Malaysia with total market capitalisation of
RM79.97 billion.

The expansion made by the group in banking business include a comprehensive suite of financial products
and services which comprises of personal banking, commercial banking, Islamic banking, investment
banking, share broking, trustee services, nominee services, sale and management of unit trust funds as well
as bancassurance and general insurance products. The Group also leverages on the advancement of
technology and digital capabilities, in line with the evolving needs of customers.

 MAYBANK.

Malayan Banking Berhad (Maybank) is a public limited liability company, incorporated and domiciled in
Malaysia. Maybank also listed on the Main Market of Bursa Malaysia Securities Berhad. Maybank is
principally engaged in all aspects of commercial banking and related financial services.

Maybank subsidiaries are principally engaged in the businesses of banking and finance, Islamic banking,
Investment banking including stockbroking, underwriting of general and life insurance, general and family
takaful, trustee and nominee services and asset management.

The registered office is located at 14th Floor, Menara Maybank, 100, Jalan Tun Perak, 50050 Kuala Lumpur.

3
 i.INDUSTRY ANALYSIS.
 PUBLIC BANK.

This business has managed to broaden its wings across Asia after just a few years since its establishment.
Public Bank Berhad (PBB) is a banking group. PBB is focused on providing a range of financial
products and services. Its offerings include commercial banking, personal banking, investment banking,
Islamic banking, trustee services, share broking and nominee services. It also sells and manages unit trust
funds, bank assurance and general insurance and life insurance products. The bank also offers online
banking, mobile banking and ATM services. It offers these products and services to individuals, families,
small and medium enterprises and corporations. The distributes these products and services through a
network of branches in Malaysia, Hong Kong, Cambodia, Vietnam, Laos, China and Sri Lanka. PBB is
headquartered in Kuala Lumpur, Malaysia.
 MAYBANK.

This business has managed to broaden its wings across Asia after just a few years since its
establishment. Malayan Banking Berhad (Maybank) is a financial services provider. The bank offers a
range of personal banking, wholesale banking, investment banking, private banking, online banking and
insurance products and services. Its product and service portfolio includes mortgage loans, car loans,
personal loans, debit and credit cards, saving accounts, current accounts, Islamic accounts, wealth
management services, trade finance, vehicle and equipment loans, custody and clearing services, personal
accident plans, share margin financing and non-margin and cash accounts. It has presence in Malaysia,
China, the Philippines, Vietnam, Indonesia, Labuan, Cambodia, the UK, Singapore, Brunei, Hong Kong,
Uzbekistan, Thailand, the US, Papua New Guinea, Myanmar, India, Pakistan, Laos, Mauritius, Saudi Arabia
and Bahrain. Maybank is headquartered in Kuala Lumpur, Malaysia.

4
 ii.STRATEGY ANALYSIS.
 PUBLIC BANK.

5
 MAYBANK.

6
C. FINANCIAL ANALYSIS
i.CASH FLOW ANALYSIS.
 PUBLIC BANK.

  2020 2019 2018 2017 2016

RM'000 RM'000 RM'000 RM'000 RM'000
Cash flows from  
operating activities

Profit before tax 5,155,501 5,911,072 5,644,492 6,296,242 5,079,255

expense and zakat

Adjustments for:  

Share of profit after - -     -

tax of equity
accounted
associated
companies
Depreciation of 124,917 140,650     -
right-of-use assets
Depreciation of 152,175 132,142 178,263 171,376 159,386
property and
equipment
Amortization of - -   - -
core deposits
intangible
Net gain on disposal -134 -774 -408 -360 -1,240
of property and
equipment
Net gain/loss in -1,691 959 -1,127 -2,176 -2,109
disposal of
foreclosed
properties
Allowance for 832,978 183,589 220,301 182,916 134,583
impairment of loans,
advances and
financing
Net gain arising          
from disposal of
financial
investment at fair
value
through other -368,368 -109,822 -32,682 -80,364 -36,599
comprehensive
income

7
 Amortization of          
cost and accretion
of discount relating
to debt
securities issued 4,269 4,731 5,388 4,877 2,330
and other borrowed
funds
Unrealized gain on          
revaluation of
financial assets at
fair value through
profit and loss -27,261 -23,078 -7,753 -337 -20

Unrealized -80 77 -111 108 5

gain/loss in
revaluation of
trading derivatives
Gain/loss -829 1,250 64 913 -4,493
representing
ineffective portions
of hedging
derivatives
Transfer to Profit - -   - -
Equalization
Reserves
Dividends from          
financial
investments at fair
value through other

comprehensive -1,600 -4,181 -186 -3,187 -23,501

income

Net loss on 1 -   - -
liquidation of
subsidiary company
Distributions from -196,524 -206,173 -200,451 -180,511 -
collective
investments
Dividends from - -   - -152,124
collective
investments
Dividends from -674,846 -884,632 -781,374 -762,235 -580,342
subsidiary
companies
Gain on -8,866 -9,581   - -
premeasurement of
lease contracts
Property and 76 2,446 402 786 1,532
equipment written
off

8
 Gain arising from          
fair valuation of
previously held
equity interest in

VID Public Bank - -   - -

Loss/Gain on - -   - -
revaluation of
investment
properties
Impairment loss on - -   - -
financial
investments
available-for-sale
Allowance/ (Write 9,589 -4,353 3,274 -5,492 -426
back of allowance)
for impairment on
other assets
Operating profit 4,999,307 5,134,322 5,028,092 5,622,556 4,576,237
before working
capital changes
(Increase)/Decrease          
in operating assets:
Placements with -87,804 -562,530 2,420 97,580 200,000
banks with original
maturity more than
three months
Reverse -194,625 -8,208   2,268,564 1,472,127
repurchases
agreements
Financial assets at 2,339,534 -1,551,669 -1,193,985 -123,130 866,308
fair value through
profit or loss
Loans, advances -12,025,121 -8,829,965 (7,954,203 -7,994,217 -13,086,234
and financing
Other assets -860,182 155,279 255,178 578,352 165,149

Statutory deposits 6,655,185 305,178 -318,014 -353,869 869,276

with Central Banks
Increase/(Decrease)          
in operating
liabilities:
Deposits from 9,819,023 9,382,131 13,545,831 3,374,270 5,497,300
customers
Deposits from 1,380,933 -691,661 -479,830 677,867 1,725,936
banks

Obligations on -48,869 -3,406,451 2,808,077 -1,232,306 2,469,834

securities sold
under repurchase
agreements

9
 Bills and -25,543 20,021 -72,196 -39,013 -36,446
acceptances
payable

Recourse -100,001 1 -422,003 4,499,999 2

obligations on loans
sold to Cagamas
Other liabilities 117,908 18,182 -102,136 -671,050 385,648

Cash generated 11,069,745 -71,734 11,097,231 6,705,603 5,105,137

from/(used in)
operations
Income tax -799,615 -1,027,209 -1,259,523 -1,137,963 -1,091,464
expense and zakat
paid
Net cash generated 10,270,130 -1,098,943 9,837,708 5,567,640 4,013,673
from/(used in)
operating activities
Cash flows from          
investing activities

Purchase of -304,749 -132,802 -148,236 -269,934 -155,161

property and
equipment
Addition to investment - -   - -
properties
Proceeds from 267 793 410 782 1,288
disposal of
property and
equipment
Proceeds from 19,804 27,994 9,065 18,511 13,056
disposal of foreclosed
properties
Proceeds from - -   - -
disposal of
investment
properties
Net (purchase)/sale of -4,553,522 3,433,366 -5,892,556 -2,673,654 -1,896,049
financial investments
Additional - -538,800 -15,000 -300,000 -879,654
investment in a
subsidiary
company
Investment in an - -   - -10,000
subsidiary company
Investment in -199,966 -206,326 -198,100 -178,244 -3,213,150
collective
investments

Acquisition of - -   - -
subsidiary companies,
net of cash acquired

10
 Distributions 199,966 206,326 198,100 178,244 124,970
received from
collective
investments
Dividends received 601,494 715,005 772,360 736,729 557,598
from subsidiary
companies
Dividends received          
from financial
investments at fair
value through
other comprehensive 1,600 4,181 186 3,187 23,501
income
Net cash (used -4,235,106 3,509,737 -5,273,771 -2,484,379 -5,433,601
in)/generated from
investing activities
Cash flows from          
financing activities
Dividends paid to -1,552,855 -2,717,497 -2,555,192 -2,278,281 -2,239,667
equity holders of
the Bank

Dividends paid to non- - -   - -

controlling interests
Net proceeds from     474,457    
disposal of
treasury shares
Net drawn down of - -   1,620,311 827,953
borrowings

Repayment of lease -84,591 -99,395   - -

liabilities

Net proceeds from - 2,000,000 2,898,500 1,999,970 999,500

issuance of debt
securities
Redemption of debt - -3,088,000 -2,350,000 -3,000,000 -2,006,600
securities
Net cash used in -1,637,446 -3,904,892 -1,532,235 -1,658,000 -2,418,814
financing activities
Net 4,397,578 -1,494,098 3,031,702 1,425,261 -3,838,742
increase/(decrease) in
cash and cash
equivalents
Cash and cash 7,922,755 9,416,853 6,385,151 4,959,890 8,798,632
equivalents at
beginning of year
Exchange differences - -   - -
on translation of
opening balances
Cash and cash 12,320,333 7,922,755 9,416,853 6,385,151 4,959,890
equivalents at end
of year
Note :          

11
Cash and balances 12,970,667 8,485,285 9,416,853 6,387,571 5,059,890
with banks
Less: Balances with -650,334 -562,530   -2,420 -100,000
banks with original
maturity more than
three month
Cash and cash 12,320,333 7,922,755 9,416,853 6,385,151 4,959,890
equivalents at end
of year

12
 MAYBANK.

2020 2019 2018 2017 2016

RM'000 RM'000 RM'000 RM'000 RM'000
Cash flows from
operating
activities
Profit before
6,929,010 8,415,383 8,748,426 7,352,614 7,347,267
taxation and
zakat
Adjustments for:
Share of profits in
-
associates and
joint ventures
Depreciation of 101,097 116,073 160,150 186,605 188,540
property, plant
and equipment
Depreciation of 113,197 108,371
right-of-use
assets
Amortisation of 56,520 49,533 76,737 99,177 128,718
computer
software
Finance costs on 13,550 16,186
lease liabilities
Gain on disposal (17,279) (2,203) (61,117) (62,415) (15,242)
of property, plant
and equipment
Gain on sale and - (1,540)
leaseback
transaction
Gain/loss on (300)
disposal of
foreclosed
properties
Net,/Loss/(gain) - 113,470 101)
on disposal of
subsidiaries
Net,/Loss on 3,275 (7,751) 27,902
disposal of
deemed control
entity
Net,/Loss on - 2,193
dilution of interest
in associates
Net gain on (134,605) (259,162) (82,456) (129,630) (101,170)
disposal of
financial assets
at fair value
through profit or
loss
Net loss/(gain) on (1,517,671) (1,056,482) (11,018)
disposal of
13
financial
investments at
fair value through
other
comprehensive
income
Net gain on (212,536) (923,826)
-
disposal of
financial
investments
available-for-sale
Net gain on - (48) (1,777)
redemption of
financial
investments at
amortised cost
Net gain on - (182) (11,397)
disposal/redempti
on of financial
investments held-
to-maturity
Modification loss 48,979
on contractual
cash flows
arising from
financial asset
Amortisation of (238,553) (383,582) (359,113) 107,688) (48,339)
premiums
/Accretion of
discounts, net
Unrealised gain 51,787 (70,606)
of financial
assets/liabilities
at fair value
through profit or
loss and
derivatives
Unrealised
(966,285) (230,641) 184,163 72,611
loss/(gain) on
revaluation of
financial
investments at
fair value through
profit or loss and
derivatives
Unrealised gain
(94,503) 529,607 (709,918) (20,824)
on revaluation of
financial liabilities
at fair value
through profit or
loss
Unrealised
(479) 10,573 (9,943) -
loss/(gain) on
revaluation of
loans, advances
and financing at
fair value through
profit or loss
Allowances for 2,771,970 2,054,379 951,485 1,420,122 2,097,425

14
impairment
losses on loans,
advances and
financing, net
Allowances 1,257 (11,997) 18,474 1,071 39,851
for/(writeback of)
impairment
losses on
financial
investments, net
(Writeback 2,636 391 2,285 (1,343)
of)/Allowances
for impairment
losses on other
debts
Writeback of
30,926 3,775 (6,040)
impairment
losses on others
financial assets,
net
Dividends from (2,640,114) (3,648,227) (2,393,819) (1,920,144) (2,400,457)
subsidiaries and
associates
Dividends from (5,802) (6,593) (5,792) 16,663) (18,569)
financial
investments
portfolio
ESGP/ESS 42,627 25,762 2,426 11,106 28,592
expenses
Property, plant 77 207 2,269 437 38
and equipment
written-off
Intangible assets 437 2,671 - 3 1,174
written-off
Operating profit 4,647,097 5,852,593 6,531,430 6,675,548 6,340,656
before working
capital changes
Change in cash (9,506,641) (34,181) (531,456) 3,036,714 (514,563)
and short-term
funds with
original maturity
of more than
three months
Change in 23,452,073 (15,691,548) 3,627,036 3,645,635 (1,551,211)
deposits and
placements with
financial
institutions with
original maturity
of more than
three months
Change in (3,552,385) (7,533,752) 3,870,219 (5,420,390) 5,277,695
financial assets
purchased under
resale
agreements
Change in (4,644,481) (974,502) (6,169,931) (18,554,411) (829,580)
financial
15
investments
portfolio
Change in loans, (4,519,496) 1,685,927 58,826,760 (4,931,934) (5,766,300)
advances and
financing
Change in other 544,562 400,626 (184,487) 459,457 3,567,824
assets
Change in 2,453,866 940,628 2,705,139 (216,374) 325,053
statutory deposits
with central
banks
Change in 5,796,663 (12,188,146) (74,354,300 3,234,342 2,075,584
)
deposits from
customers
Change in - - -
investment
accounts of
customers
Change in (16,634,420) (1,586,212) 15,295,613 7,788,424 (8,047,979)
deposits and
placements from
financial
institutions
Change in 8,629,273 7,026,730 16,076,986 2,231,365 (1,540,624)
obligations on
financial assets
sold under
repurchase
agreements
Change in bills (21,045) (133,305) (772,017) 384,205 (113,611)
and acceptances
payable
Change in (22,772) (1,235,253) (247,182) 820,794 2,875,070
financial liabilities
at fair value
through profit or
loss
Change in other (1,401,543) 457,196 (8,724,334) 4,528,798 (1,595,494)
liabilities
Cash generated 5,220,751 (23,013,199) 15,949,476 3,682,173 502,520
from/(used in)
operating
activities
Taxes and zakat (870,990) (1,210,565) (1,408,184) (954,525) (621,212)
paid
Net cash 4,349,761 (24,223,764) 14,541,292 2,727,648 (118,692)
generated
from/(used in)
operating
activities

Cash flows from

investing
activities
Purchase of (29,364) (90,389) (99,762) (96,026) (155,497)
property, plant

16
and equipment
Purchase of (92,302) (66,366) (120,476) (142,519) (146,898)
intangible assets
Purchase of -
investment
properties
Net effect arising
from:
– acquisition of a
subsidiary
242,837
– repayment of
capital of a
subsidiary
– 250
liquidation/dispos
al of subsidiaries
- disposal of
subsidiaries
- transaction with 21,820
non-controlling
interests
-change in 6,899
structure of
deemed
controlled
structured (193,863)
entities
-liquidation of 1,213,920
interest in
associate
-acquisition of an
associate
– increase in
shares in existing
subsidiary
– capital
repayment of a
subsidiary
Purchase of (732,788) (194,070) (9,556,615) (156,420) (559,592)
additional
ordinary shares
in existing
subsidiaries
Purchase of (12,557) (62,010) (873) (480,341)
shares in
deemed
controlled
structured
entities from a
subsidiary
Purchase of - (20,497)
shares in
associates from a
subsidiary
Proceeds from 18,058 5,922 62,729 85,377 17,526
disposal of
property, plant
and equipment

17
Proceeds from 169,521
disposal of a
subsidiary
Proceeds from 184,033 40,068
disposal of
deemed
controlled
structured
entities
Proceeds from 140,188
disposal of
deemed
controlled entities
Dividends
5,802 6,593 5,792 16,663 18,569
received from:
- financial 777 689 398 9,856 8,179
investments
2,639,337 3,647,538 2,393,421 1,910,288 2,392,278
portfolio
- associates
- subsidiaries
Transfer of 60,063
property, plant
and equipment to
subsidiary
Transfer of 249,803
intangible assets
to subsidiary
transfer of
- (175)
property, plant
and equipment
from subsidiaries,
net
Net cash (used
3,364,437 3,122,831 (6,865,332) 1,369,468 1,574,390
in)/generated
from investing
activities

Cash flows from

financing
activities
Proceeds from - 1,532,913 2,363,437 4,995,506 3,368,934
issuance of
shares
Repayment/ 742,415 9,377,344 (799,087) (76,897) 2,579,375
Drawdown of
borrowings, net
Issuance of - 2,800,000 - - 2,243,000
capital securities
Issuance of 3,000,000 3,700,000
subordinated
obligations
Redemption of (3,300,000) (3,700,000) (250,000) (3,240,000)
subordinated
obligations
Redemption of - (3,500,000) (2,744,404) (5,850,743)
capital securities

18
Repayment of (99,624) (100,948)
lease liabilities
Redemption of (715,368) (2,669,250)
financial liabilities
at fair value
through profit or
loss
Drawdown of 4,499,040 1,432,900 620,775 2,097,150 2,156,642
financial liabilities
at fair value
through profit or
loss
Finance lease
obligation
Recourse (1,526,225) (21,047) 3,772 568,913 (199,758)
obligation on
loans and
financing sold to
Cagamas, net
Dividends paid (4,384,131) (6,346,240) (6,234,092) (5,708,543) (4,926,889)

Net cash (used (1,783,893) 2,505,672 (7,039,599) (1,363,871) (2,786,081)

in)/generated
from financing
activities

Net 5,930,305 (18,595,256) 636,361 2,733,245 (1,330,383)

(decrease)/increa
se in cash and
cash equivalents
Cash and cash 21,934,867 40,682,109 39,306,384 38,217,233 38,619,149
equivalents at 1
January
Effects of foreign 37,379 (151,981) 717,484 (1,644,094) 928,467
exchange rate
changes
Cash and cash 27,902,551 21,934,867 40,660,229 39,306,384 38,217,233
equivalents at 31
December

Cash and cash

equivalents
comprise:
Cash and short- 24,111,660 19,053,083 26,945,152 30,714,527 38,350,931
term funds
Deposits and 15,274,310 28,310,635 23,410,133 21,382,493 19,339,287
placements with
other financial
institutions
39,385,970 47,363,718 50,355,285 52,097,020 57,690,218

Less:

Cash and short- (11,483,419) (25,428,851) (9,695,056) (12,790,636) 19,472,985)

19
term funds and
deposits and
placements with
original maturity
of more than
three months
27,902,551 21,934,867 40,660,229 39,306,384 38,217,233

20
ii. FSA TOOLS.
 PUBLIC BANK

Financial Statement Analysis Tools is a tool that used to analyze financial statement and
consist of:-
a) comparative financial statement analysis tools that consist of two (2) methods which are:
- year to year change
- index number trend
b) common size

For Public Bank, we choose year to year change method to analyze the financial statement and
the formula to calculate the changes is (P1-P0)/P0.

Statement of Profit and Loss for year ended 31 December

2020 2019 2018 2017 2016

2020 Percentage 2019 Percentage 2018 Percentage 2017 Percentage 2016 Percentage 2015
RM'000 Change (%) RM'000 Change (%) RM'000 Change (%) RM'000 Change (%) RM'000 Change (%) RM'000
Operating revenue 14,600,219 (10.64) 16,337,793 2.15 15,994,188 2.08 15,668,540 5.62 14,834,374 6.40 13,941,929

Interest income 12,558,519 (13.66) 14,545,402 0.11 14,529,609 7.10 13,566,413 0.21 13,537,566 4.42 12,964,990
Interest expense (6,688,860) (21.49) (8,519,282) 1.30 (8,409,986) 11.11 (7,569,308) (4.23) (7,903,957) 4.39 (7,571,270)
Net interest income 5,869,659 (2.60) 6,026,120 (1.53) 6,119,623 2.04 5,997,105 6.45 5,633,609 4.45 5,393,720
Net income from Islamic banking business - - - - - - - - - -
5,869,659 (2.60) 6,026,120 (1.53) 6,119,623 2.04 5,997,105 6.45 5,633,609 4.45 5,393,720

Fee and commission income 980,662 (7.06) 1,055,196 (0.81) 1,063,803 2.10 1,041,880 7.11 972,727 3.81 937,033
Fee and commission expense (292,029) (20.94) (369,392) 0.87 (366,217) 6.76 (343,025) 10.43 (310,623) 5.05 (295,692)
Net fee and commission income 688,633 0.41 685,804 (1.69) 697,586 (0.18) 698,855 5.55 662,104 3.24 641,341

Net gains and losses on financial instruments 428,755 173.88 156,549 257.65 43,772 (48.78) 85,462 4.01 82,171 (64.64) 232,404
Other operating income 1,360,180 (9.92) 1,509,930 29.61 1,164,961 (33.60) 1,754,382 108.62 840,964 27.80 658,030
Net income 8,347,227 (0.37) 8,378,403 4.39 8,025,942 (5.97) 8,535,804 18.24 7,218,848 4.24 6,925,495
Other operating expenses (2,463,630) 1.75 (2,421,329) 6.58 (2,271,866) 4.68 (2,170,222) 2.68 (2,113,580) 9.00 (1,939,050)
Operating profit before impairment losses 5,883,597 (1.23) 5,957,074 3.53 5,754,076 (9.61) 6,365,582 24.69 5,105,268 2.38 4,986,445
Allowance for impairment on loans, advances and
financing (718,507) 1,326.88 (50,355) (52.63) (106,310) 42.06 (74,832) 183.04 (26,439) (286.68) 14,163
(Allowance)/Writeback of allowance for impairment on
other assets (9,589) (320.28) 4,353 (232.96) (3,274) (159.61) 5,492 1,189.20 426 (180.68) (528)
5,155,501 (12.78) 5,911,072 4.72 5,644,492 (10.35) 6,296,242 23.96 5,079,255 1.58 5,000,080
Share of profit after tax of equity accounted associated
companies - - - - - - - - -
Profit before tax expense and zakat 5,155,501 (12.78) 5,911,072 4.72 5,644,492 (10.35) 6,296,242 23.96 5,079,255 1.58 5,000,080
Tax expense and zakat (1,030,391) (11.65) (1,166,249) 6.66 (1,093,427) (11.51) (1,235,703) 17.09 (1,055,350) 4.34 (1,011,451)
Profit for the year 4,125,110 (13.06) 4,744,823 4.26 4,551,065 (10.07) 5,060,539 25.76 4,023,905 0.88 3,988,629

Statement of Financial Position for year ended 31 December

21
 2020 2019 2018 2017 2016
Percentage Percentage Percentage Percentage
2020 2019 2018 2017 2016 Percentage 2015
Change Change Change Change
RM'000 RM'000 RM'000 RM'000 RM'000 Change (%) RM'000
(%) (%) (%) (%)
Assets
Cash and balances with banks 12,970,667 52.86 8,485,285 (9.89) 9,416,853 47.42 6,387,571 26.24 5,059,890 (44.39) 9,098,632
Reverse repurchase agreements 202,833 2,371.16 8,208 - - 2,268,564 (39.35) 3,740,691
Financial assets at fair value through profit or loss 1,556,110 (59.77) 3,868,383 68.66 2,293,636 227.76 699,796 21.42 576,329 (60.05) 1,442,617
Derivative financial assets 469,253 102.04 232,254 20.28 193,101 (19.61) 240,215 (61.76) 628,145 (7.30) 677,630
Financial investments at fair value through other comprehensive
income 33,053,569 27.15 25,996,097 (10.58) 29,070,703 43.84 20,210,743 (14.56) 23,655,309 2.47 23,086,012
Financial investments at amortised cost 18,845,261 (8.61) 20,620,456 0.23 20,572,364 (11.83) 23,331,493 36.89 17,044,541 (3.62) 17,685,187
Loans, advances and financing 267,438,974 4.36 256,270,074 3.46 247,690,397 2.96 240,576,248 3.34 232,794,693 5.88 219,872,074
Other assets 3,167,792 43.93 2,200,892 (7.01) 2,366,764 (6.69) 2,536,423 (16.24) 3,028,257 (1.39) 3,071,000
Statutory deposits with Central Banks 298,089 (95.71) 6,953,274 (4.20) 7,258,452 4.58 6,940,438 5.37 6,586,569 (11.66) 7,455,845
Deferred tax assets - (100.00) 11,307 - - - - - - -
Collective investments 5,923,401 3.49 5,723,435 3.74 5,517,109 3.72 5,319,009 3.47 5,140,765 - -
Investment in subsidiary companies 6,494,294 - 6,494,294 9.05 5,955,494 - 5,955,494 5.30 5,655,494 20.98 4,674,545
Investment in associated companies 45,000 - 45,000 - 45,000 50.00 30,000 - 30,000 (75.27) 121,295
Investment properties - - - - - - - - - -
Right-of-use assets 1,289,661 (2.48) 1,322,521 - - - - - - -
Property and equipment 770,206 24.51 618,579 (13.03) 711,274 (4.13) 741,942 14.89 645,794 (0.87) 651,470
Intangible assets 695,393 - 695,393 - 695,393 - 695,393 - 695,393 - 695,393
Total Assets 353,220,503 4.03 339,545,452 2.34 331,786,540 0.97 313,664,765 3.24 303,809,743 3.95 292,272,391

Liabilities
Deposits from customers 278,078,713 3.66 268,259,690 3.62 258,877,559 5.52 245,331,728 1.39 241,957,458 2.32 236,460,158
Deposits from banks 13,176,335 11.71 11,795,402 (5.54) 12,487,063 (3.70) 12,966,893 5.52 12,289,026 16.34 10,563,090
Obligations on securities sold under repurchase agreements 590,285 (7.65) 639,154 (84.20) 4,045,605 226.91 1,237,528 (49.89) 2,469,834 - -
Bills and acceptances payable 208,866 (10.90) 234,409 9.34 214,388 (25.19) 286,584 (11.98) 325,597 (10.07) 362,043
Recourse obligations on loans sold to Cagamas 4,500,003 (18.18) 5,500,004 0.00 5,500,003 (7.13) 5,922,006 316.45 1,422,007 0.00 1,422,005
Derivative financial liabilities 580,371 79.72 322,935 11.36 289,995 (49.07) 569,439 (56.95) 1,322,747 26.50 1,045,621
Debt securities issued and other borrowed funds 10,184,448 (0.38) 10,223,214 (9.86) 11,341,598 5.41 10,759,998 3.63 10,383,129 (1.72) 10,565,149
Lease liabilities 1,342,940 (0.13) 1,344,637 - - - - - - -
Other liabilities 3,898,526 4.38 3,734,769 9.31 3,416,816 2.91 3,320,082 (1.53) 3,371,725 (0.49) 3,388,373
Provision for tax expense and zakat 109,527 (73.47) 412,868 65.67 249,207 (50.19) 500,330 33.04 376,065 (9.11) 413,764
Deferred tax liabilities 610,701 - - (100.00) 84,502 (34.49) 128,997 8.72 118,653 10.89 107,001
Total Liabilities 313,280,715 3.58 302,467,082 (0.03) 296,506,736 5.51 281,023,585 2.55 274,036,241 3.67 264,327,204

Equity
Share capital 9,417,653 - 9,417,653 - 9,417,653 - 9,417,653 142.59 3,882,138 - 3,882,138
Regulatory reserves 1,031,389 (36.31) 1,619,452 10.78 1,461,892 (93.75) 23,372,864 (10.24) 26,040,701 7.55 24,212,386
Other reserves 1,162,643 33.14 873,228 2.83 849,167 - - - - -
Treasury shares - - - - - (100.00) (149,337) - (149,337) - (149,337)
Retained profits 28,328,103 12.56 25,168,037 6.87 23,551,092 - - - - -
Equity attributable to equity holders of the Bank 39,939,788 7.72 37,078,370 5.10 35,279,804 8.08 32,641,180 9.63 29,773,502 6.54 27,945,187
Non-controlling interests - - - - - - - - - -
Total Equity 39,939,788 7.72 37,078,370 5.10 35,279,804 8.08 32,641,180 9.63 29,773,502 6.54 27,945,187
Total Liabilities and Equity 353,220,503 4.03 339,545,452 2.34 331,786,540 5.78 313,664,765 3.24 303,809,743 3.95 292,272,391

22
  MAYBANK
Financial Statement Analysis Tools is a tool that used to analyze financial statement and consist
of:-
c) comparative financial statement analysis tools that consist of two (2) methods which are:
- year to year change
- index number trend
d) common size

For Maybank , we choose year to year change method to analyze the financial statement and the
formula to calculate the changes is (P1-P0)/P0.

Statement of Profit and Loss for year ended 31 December

2018 Percentag 2017 Percentage 2016 Percentage 2015 Percentage

e Change Change Change
Change (%) (%) (%)
(%)
-
Operating revenue 225,249 0.84 1,839,578 7.41 1,750,911 -6.58 3,480,593 15.06
Interest income - -7.83 1,367,559 8.49 1,023,592 6.79 324,818 2.20
1,368,315
Interest expense 343,495 -3.96 - 18.57 -172,375 2.42 -711,461 11.08
1,356,560
Net interest income - -11.64 10,999 0.13 851,217 10.72 -386,643 -4.64
1,024,820
Net earned insurance premiums - - - - - - - -

Dividends from subsidiaries and 1,254,408 52.40 473,675 24.67 -480,313 -20.01 866,424 56.48
associates
Other operating income -222,881 -5.44 417,370 11.34 -591,191 -13.84 882,804 26.04

Net insurance benefits and claims

- - - - - - - -
incurred, net fee and commission
expenses, change
in expense liabilities and taxation of life
and takaful fund
Net operating income 6,707 0.04 902,044 6.27 -220,287 4.66 1,362,585 10.28

Overhead expenses 785,126 -13.52 74,992 -1.28 -541,064 8.73 290,262 -5.16
Operating profit before impairment 791,833 8.34 977,036 11.48 -761,351 2.33 1,652,847 21.68
losses
Allowances for impairment losses on
loans, advances, financing and other
debts, net
- 156.96 433,427 -37.26 624,630 -59.18 -1,111,153 164.20
1,145,532
Writeback of/(allowances for) 30,471 -164.94 -20,691 -933.29 142,068 -86.79 -178,962 -457.57
impairment losses on financial
investments net
(Allowances for)/writeback of -9,815 -162.50 - - - - - -
impairment losses on financial
investments net
Operating profit -333,043 -3.81 1,395,812 18.98 5,347 19.07 362,732 5.19
Share of profits in associates and joint
23
ventures
- - - - - - - -

Profit before taxation and zakat -333,043 -3.81 1,395,812 18.98 5,347 0.07 362,732 5.19

Taxation and zakat 304,532 -21.14 -210,876 17.15 -305,116 33.00 225,625 -19.62

Profit for the financial year -28,511 -0.39 1,184,936 19.35 885,167 -4.67 588,357 10.08

202 2019 2018 2017 2016

0
(%) (%) (%) (%)
(%)

ASSET

Cash and short-term funds 5.57 6.82 6.58 7.90 7.86

Deposits and placements with financial 1.69 1.55 2.22 1.83 1.92
institutions

Financial assets purchased under resale 1.63 0.50 1.11 0.34 1.09
agreements

Financial assets designated upon initial 1.72 1.83 0.00

recognition at fair value through profit or
loss

Financial investments at fair value through 2.44 1.88 3.28 3.19 2.43
profit or loss

Financial investments at fair value through 14.78 14.98 14.25 12.55 12.74
other comprehensive income

Financial investments at amortised cost 4.17 3.35 2.64 2.04 2.07

Loans, advances and financing 61.53 62.84 63.45 64.92 64.02

Derivative assets 1.24 0.86 0.88 1.13 1.17

Reinsurance/retakaful assets and other 0.51 0.47 0.51 0.56 0.61

insurance receivables

Other assets 1.14 1.22 1.27 1.43 1.75

Investment properties 0.11 0.11 0.10 0.10 0.10

Statutory deposits with central banks 1.80 2.02 2.01 2.09 2.30

Investment in subsidiaries 0.00 0.00 0.00

Interest in associates and joint ventures 0.30 0.29 0.36 0.44 0.44

Property, plant and equipment 0.28 0.31 0.34 0.35 0.38

24
Right-of-use assets 0.19 0.00

Intangible assets 0.82 0.83 0.88 1.00 0.98

Deferred tax assets 0.09 0.13 0.11 0.13 0.14

Total assets 100.00 100.00 100.00 100.00 100.00

25
 iii.FINANCIAL RATIOS ANALYSIS & INTERPRETION
 PROFITABILITY.
 PUBLIC BANK.
Net Profit Margin (NPM)

NET PROFIT
NPM = X 100
SALES

NET PROFIT
YEAR (RM ‘000) SALES (RM ‘000) NET PROFIT MARGIN
(%)
2016 4,023,905 7,218,848 55.74
2017 5,060,539 8,535,804 59.29
2018 4,551,065 8,025,942 56.70
2019 4,744,823 8,378,403 56.63
2020 4,125,110 8,347,227 49.42

 MAYBANK.
SALES
YEAR NET PROFIT NET PROFIT MARGIN
(RM ‘000)
(RM ‘000) (%)
2016 6,422,644 14,614,625 43.95
2017 6,122,875 14,394,338 42.54
2018 7,307,811 15,296,382 47.77
2019 7,279,300 15,303,089 47.57
2020 5,965,127 14,451,865 41.28

NET PROFIT MARGIN %

70
59.29
60 55.74 56.7 56.63
47.77 47.57 49.42
50
43.95 42.54 41.28
40

30

20

10

0
2016 2017 2018 2019 2020

PUBLIC BANK MAYBANK

26
  PUBLIC BANK.
Operating Profit Margin (OPM)

EBIT
OPM = X 100
SALES

OPERATING
YEAR EBIT (RM ‘000) SALES (RM ‘000) PROFIT MARGIN
(%)
2016 5,079,255 7,218,848 70.36
2017 6,296,242 8,535,804 73.76
2018 5,644,492 8,025,942 70.33
2019 5,911,072 8,378,403 70.55
2020 5,155,501 8,347,227 61.76

 MAYBANK.

OPERATING
YEAR EBIT (RM ‘000) SALES (RM ‘000) PROFIT MARGIN
(%)
2016 7,347,267 14,614,625 50.27
2017 7,352,614 14,394,338 51.08
2018 8,748,426 15,296,382 57.19
2019 8,415,383 15,303,089 54.99
2020 6,929,010 14,451,865 47.95

27
  PUBLIC BANK
Return on Equity (ROE)

NET PROFIT
ROE = X 100
TOTAL EQUITY

NET PROFIT TOTAL EQUITY RETURN ON

YEAR
(RM ‘000) (RM ‘000) EQUITY (%)
2016 4,023,905 29,773,502 13.52
 MAYBANK
2017 5,060,539 32,641,180 15.50
2018 4,551,065 35,279,804 12.90
2019 4,744,823 37,078,370 12.80
2020 4,125,110 39,939,788 10.33
NET PROFIT TOTAL ASSETS RETURN ON
YEAR
(RM ‘000) (RM ‘000) ASSETS (%)
2016 6,422,644 496,062,610 1.29
2017 6,122,875 509,666,821 1.20
2018 7,307,811 456,613,298 1.60
2019 7,279,300 464,360,346 1.57
2020 5,965,127 476,303,646 1.25

28
  LIQUIDITY.
 PUBLIC BANK.

2020 2019 2018 2017 2016

PUBLIC BANK
(RM ' 000) (RM ' 000) (RM ' 000) (RM ' 000) (RM ' 000)

Cash/Deposit in other
bank (A)          
Cash and short-term
funds 12,970,667 8,485,285 9,416,853 6,387,571 5,059,890
Deposits and
placements with
298,089 6,953,274 7,258,452 6,940,438 6,586,569
financial institutions

Total Cash and 15,438,55 16,675,30 11,646,45

13,268,756 13,328,009
deposits 9 5 9

Investment in
Securities/Financial          
Assets (B)
Financial assets
purchased under
202,833 8,208 - - 2,268,564
resale agreements
Financial assets at fair
value through profit
1,556,110 3,868,383 2,293,636 - -
and loss
Financial Investments
available-for-sale - - - 20,210,743 23,655,309

Financial Investments
held-to-maturity - - - 23,331,493 17,044,541

Derivative assets
469,253 232,254 193,101 240,215 628,145
Total investments in
securities and 43,596,55
2,228,196 4,108,845 2,486,737 43,782,451
financial asets 9
Total Current Assets 15,4 19,5 1 57,1 55,2
(A) + (B) 96,952 47,404 9,162,042 10,460 43,018

29
          
Current Liabilities
Deposits from
278,078,71 245,331,72 241,957,45
customers 268,259,690 258,877,559
3 8 8
Deposits and
placements from
13,176,335 11,795,402 12,487,063 12,966,893 12,289,026
financial institutions
Obligations on
financial assets sold
under repurchase 590,285 639,154 4,045,605 1,237,528 2,469,834
agreements
Bills and
acceptances payable 208,866 234,409 214,388 286,584 325,597

Derivative liabilities
580,371 322,935 289,995 569,439 1,322,747

Other liabilities
3,898,526 3,734,769 3,416,816 3,320,082 3,371,725

Total current
296,533,09 263,712,25 261,736,38
liabilities 284,986,359 279,331,426
6 4 7

30
  MAYBANK.

2020 2019 2018 2017 2016

MAYBANK
(RM ' 000) (RM ' 000) (RM ' 000) (RM ' 000) (RM ' 000)

Cash/Deposit in
other bank (A)          
Cash and short-
term funds 24,106,030 19,040,534 26,945,152 30,714,527 38,350,931
Deposits and
placements with
financial 15,268,348 28,287,338 23,410,133 21,382,493 19,339,287
institutions
Total Cash and
deposits 39,374,378 47,327,872 50,355,285 52,097,020 57,690,218
Investment in
Securities/Financia          
l Assets (B)
Financial assets
purchased under
14,849,421 11,297,036 3,763,284 7,633,503 2,213,113
resale agreements
Financial assets at
fair value through
- - 8,914,167 - 7,980,314
profit and loss
Financial
Investments
- - - 89,286,739 74,904,201
available-for-sale
Financial
Investments held-
- - - 17,763,565 12,582,311
to-maturity
Derivative assets
19,713,802 10,002,003 6,799,063 6,865,221 8,320,918
Total investments
in securities and
34,563,223 21,299,039 19,476,514 121,549,028 106,000,857
financial assets
Total Current 73,93 68,62 69,83 173,646 163,691
Assets (A) + (B) 7,601 6,911 1,799 ,048 ,075

31
          
Current Liabilities

Deposits from
customers 250,025,335 242,757,617 255,160,315 328,938,600 336,186,752

Deposits and
placements from
financial 34,720,115 51,354,535 52,940,747 37,645,134 29,856,710
institutions
Obligations on
financial assets
sold under
36,922,305 28,293,032 21,266,302 5,189,316 2,957,951
repurchase
agreements
Bills and
acceptances
458,617 479,662 612,967 1,384,983 1,000,777
payable

Derivative
liabilities 18,724,393 10,588,278 7,439,049 7,179,998 8,802,221

Other liabilities
7,810,067 7,952,408 7,341,061 16,910,597 8,190,241

Total current
liabilities 348,660,832 341,425,532 344,760,441 397,248,628 386,994,652

32
  PUBLIC BANK
Current Ratio (CR)

CURRENT ASSETS
CR =
CURRENT LIABILITIES

CURRENT ASSETS CURRENT LIABIITIES

YEAR CURRENT RATIO
(RM ‘000) (RM ‘ 000)
2016 55,243,018 261,736,387 0.21
2017 57,110,460 263,712,254 0.22
2018 19,162,042 279,331,426 0.07
2019 19,547,404 284,986,359 0.07
2020 15,496,952 296,533,096 0.05

 MAYBANK.

CURRENT ASSETS CURRENT LIABIITIES

YEAR CURRENT RATIO
(RM ‘000) (RM ‘ 000)
2016 163,691,075 386,994,652 0.42
2017 173,646,048 397,248,628 0.44
2018 69,831,799 344,760,441 0.20
2019 68,626,911 341,425,532 0.20
2020 73,937,601 348,660,832 0.21

33
  PUBLIC BANK.
Debt Ratio (DR)

TOTAL LIABILITIES
DR =
TOTAL ASSETS

TOTAL TOTAL ASSETS

YEAR LIABILITIES DEBT RATIO
(RM ‘000)
(RM ‘000)
2016 274,036,241 303,809,743 0.90
2017 281,023,585 313,664,765 0.90
2018 296,506,736 331,786,540 0.89
2019 302,467,082 339,545,452 0.89
2020 313,280,715 353,220,503 0.89

 MAYBANK.

TOTAL
TOTAL ASSETS
YEAR LIABILITIES (RM DEBT RATIO
(RM ‘000)
‘000)
2016 439,057,978 496,062,610 0.89
2017 447,414,273 509,666,821 0.88
2018 391,024,031 456,613,298 0.86
2019 394,296,969 464,360,346 0.85
2020 404,037,390 476,303,646 0.85

34
  PUBLIC BANK.
Debt to Equity Ratio (DER)

TOTAL LIABILITIES
DER =
TOTAL EQUITY

TOTAL
TOTAL EQUITY
YEAR LIABILITIES DEBT TO EQUITY
(RM ‘000)
(RM ‘000) RATIO
2016 274,036,241 29,773,502 9.20
2017 281,023,585 32,641,180 8.61
2018 296,506,736 35,279,804 8.40
2019 302,467,082 37,078,370 8.16
2020 313,280,715 39,939,788 7.84

 MAYBANK.

TOTAL
TOTAL EQUITY
YEAR LIABILITIES (RM ‘ DEBT TO EQUITY
(RM ‘ 000)
000) RATIO
2016 439,057,978 57,004,632 7.70
2017 447,414,273 62,252,548 7.19
2018 391,024,031 65,589,267 5.96
2019 394,296,969 70,063,377 5.63
2020 404,037,390 72,266,256 5.59

35
  PUBLIC BANK.
Time Interest Earned (TIE)

EBIT
TIE =
INTEREST EXPENSES

INTEREST
YEAR EBIT (RM ‘000) EXPENSES TIME INTEREST
(RM ‘000) EARNED
2016 5,079,255 7,903,957 0.64
2017 6,296,242 7,569,308 0.83
2018 5,644,492 8,409,986 0.67
2019 5,911,072 8,519,282 0.69
2020 5,155,501 6,688,860 0.77

 MAYBANK.

INTEREST
YEAR EBIT (RM ‘000) EXPENSES (RM ‘ TIME INTEREST
000) EARNED
2016 7,347,267 6,923,742 1.06
2017 7,352,614 7,306,999 1.01
2018 8,748,426 8,663,559 1.01
2019 8,415,383 8,342,819 1.01
2020 6,929,010 5,308,438 1.31

36
  ASSET UTILIZATION & EFFICIENCY.
 PUBLIC BANK
Fixed Assets Turnover (FATO)

SALES
FATO =
AVERAGE TFA

TOTAL FIXED AVERAGE

YEAR FATO SALES
ASSETS FIXED ASSETS
2016 5.371 7,218,848 1,341,187 1,344,025
2017 6.144 8,535,804 1,437,335 1,389,261
2018 5.644 8,025,942 1,406,667 1,422,001
2019 4.027 8,378,403 2,754,760 2,080,714
2020 2.121 8,347,227 5,115,011 3,934,886

 MAYBANK.

TOTAL
AVERAGE
SALES FIXED
YEAR FATO FIXED ASSETS
('000) ASSETS
('000)
('000)

2016 8.00 14,614,625 1,820,810 1,826,194

2017 8.10 14,394,338 1,733,938 1,777,374

2018 9.75 15,296,382 1,402,297 1,568,118

2019 9.52 15,303,089 1,813,675 1,607,986

2020 8.10 14,451,865 1,753,566 1,783,621

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  PUBLIC BANK

Total Assets Turnover (TATO)

SALES
TATO =
TOTAL ASSETS

YEAR TATO SALES TOTAL ASSETS

2016 0.024 7,218,848 303,809,743

2017 0.027 8,535,804 313,664,765
2018 0.024 8,025,942 331,786,540
2019 0.025 8,378,403 339,545,452
2020 0.024 8,347,227 353,220,503

 MAYBANK

TOTAL FIXED
YEAR TATO SALES
ASSETS
2016 0.029 14,614,625 496,062,610
2017 0.028 14,394,338 509,666,821
2018 0.033 15,296,382 456,613,298
2019 0.033 15,303,089 464,360,346
2020 0.030 14,451,865 476,303,646

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 D. CONCLUSION.

As we can see in the cash flow analysis above, the cash flows seem to continue to follow the trend.
The items which been considered including operating cash flow, investing cash flow, and financing
cash flow. As we all know, cash flows are the lifeblood of the business and it has proven from time
to time that positive cash flow can sustain the company’s business before making any long-term
investments. According to operating activities for 2020 it shows a positive amount of _____ where it
still gives a positive net increase in cash and cash equivalent as much as _____ even after taking
investing and financing cash flow into account.

This strength is also supported by the profitability ratio which is consist of net profit margin ratio,
gross profit margin ratio and operating margin ratio where the trend from year to year seems to be in
a stabilize manner.

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 E. RECOMMENDATION.

In regards of our recommendation, we believe Maybank is currently performing well. Every year, their
accomplishments and prizes demonstrate this. What we can provide is that we believe they should retain
their strength in order to continue to be a successful bank in Malaysia. Financial goods and services, such as
commercial banking, offshore banking, offshore trust services, general insurance, Islamic banking,
investment banking, and unit trust management, are among the strengths they have, according to our
findings. This is a large number of products and services, and the range of products and services available to
customers is what makes Maybank so useful. We are certain that Maybank will be able to retain and improve
its position.

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