MAYBANK INDONESIA PROFIT RISES 3.4PC
Net interest income grows 5.5pc to 6tril rupiah
PT BANK Maybank Indonesia’s profit after tax and minority interests increased 3.4 per cent to 1.5 trillion rupiah (RM412 million) for the nine-month period ended September 30, on the back of higher net interest income and improvement in provisioning level.
The lender, 97.4 per cent owned by Maybank Group Bhd, also maintained a strong capital position with total capital reaching 25.3 trillion rupiah.
Net interest income grew 5.5 per cent to six trillion rupiah for the nine months, compared with 5.7 trillion rupiah in the previous corresponding period.
As such, net interest margin expanded by six basis points to 5.2 per cent as the bank continued to implement disciplined pricing in both asset and liabilities.
Maybank Indonesia recorded a loan growth of 7.8 per cent to 131.2 trillion as at September 30 from 121.8 trillion rupiah in the previous year.
Asset quality improved significantly, as reflected by lower non-performing loan levels of 2.7 (gross) and 1.5 per cent (net) within the same period, compared with 3.9 (gross) and 2.4 per cent (net) in the previous year.
“Despite the slow start to the year and challenging market condition, we have recaptured our momentum and are able to deliver improvement at the operating level for the nine-month period,” said Maybank Indonesia president director Taswin Zakaria in a statement.
“We remain optimistic of concluding financial year 2018 with commendable results despite the continued challenging market conditions for the remaining year.”
Maybank group president and chief executive officer Datuk Abdul Farid Alias, who is also Maybank Indonesia president commissioner, is also optimistic of the opportunities.
“We are encouraged with the improved performance, which reflects the bank’s resilience amid the challenging economic environment.”
“We have strengthened our financial position and product offerings, as well as risk management capabilities, and successfully leveraged the opportunities from the government’s various economic development projects,” he said.