RAM Reaffirms Maybank Investment Bank's AAA/Stable/P1 Ratings

KUALA LUMPUR, Dec 15 (Bernama) -- RAM Ratings Services Bhd has reaffirmed Maybank Investment Bank (Maybank IB) Bhd's AAA/Stable/P1 financial institution ratings based on the bank's strategic importance as the investment-banking and stockbroking arm of Malayan Banking Bhd. In a statement, it said Maybank IB has consistently featured prominently in the league tables for the domestic debt and equity capital markets. "Leveraging on its parent's larger balance sheet, the bank has been clinching key capital-market deals in both the domestic and regional arenas. "Beyond Malaysia, the group mainly has a presence in stockbroking, notably in Thailand, Singapore, Indonesia, Vietnam and the Philippines," it said. The rating house also said Maybank IB, as part of the Maybank Kim Eng franchise, was an important component of the group's vision of becoming the leading ASEAN wholesale bank linking Asia. Maybank IB's earnings profile was inherently volatile given its susceptibility to market conditions and investor sentiment. The bank pre-tax profit strengthened to US$16.9 million (RM75.4 million) in the first nine months of 2016 versus US$13.51 million (RM60.3 million) the same period a year ago. (US$1 = RM4.46) -- BERNAMA