Maybank Indonesia earnings up on loan growth
PETALING JAYA: PT Bank Maybank Indonesia Tbk has recorded a net profit after tax and minority interest of 1.4 trillion rupiah (RM436.76mil) for the first nine months of financial year 2017 (FY17) to end-September, a 12% increase from 1.3 trillion rupiah from the year-ago period.
The bank’s pre-tax profit rose 14% to two trillion rupiah in the period under review.
According to the bank, the improved performance was mainly due to loan growth, particularly in global banking, effective cost-management control and its achievements in syariah banking.
Loan growth increased 4.6% to 121.8 trillion rupiah from a year ago, while global banking loans saw more robust growth of 29% to 28.2 trillion rupiah on the back of infrastructure financing in line with the Indonesian government’s initiatives.
Community financial services (CFS) non-retail loans – comprising of micro, SME and business banking – grew 3.4% to 51.4 trillion rupiah, while CFS retail loans contracted 6% to 42.2 trillion rupiah due to slower growth in the consumer sector.
The bank saw an increase in customer deposits from 115.6 trillion rupiah in the 2016 period to 119.1 trillion rupiah in the nine-month period, with its current account, savings account or CASA ratio reaching 38% due to a focus on cash management.
Its current account increased 10.2% in the first nine months of FY17 to 20.8 trillion rupiah.
“The bank’s continuous improvement in its electronic channels, which include its Internet-based mobile banking facility Maybank M2U, has also contributed to the improved liquidity position,” it said.
Syariah banking saw a 63.3% increase in net profit to 561.6 million rupiah, with total financing rising 50.5% to 17.1 trillion rupiah and total deposits rising 42.1% to 14.4 trillion rupiah.
Its total assets increased 35% to 24 trillion rupiah, reflecting 14.2% of the bank’s total assets.
PT Bank Maybank Indonesia’s subsidiary, PT Maybank Indonesia Finance, recorded a 30.6% increase in total financing to seven trillion rupiah. Its pre-tax profit increased 14% to 246.9 billion rupiah.
Another subsidiary, PT Wahana Ottomitra Multiartha Tbk, recorded a pre-tax profit of 132.2 billion rupiah in the first nine months of FY17 versus 72.8 billion rupiah in the previous corresponding period.
Its total financing portfolio rose to 6.1 trillion rupiah from 5.7 trillion rupiah.
“With the growth momentum in our global banking business, we look forward to continue reaping more benefits from this improved segment.
“We will also seize opportunities to expand our CFS non-retail segment in the coming quarters,” said Taswin Zakaria, president director of PT Bank Maybank Indonesia, in a statement.