Maybank Indonesia’s net profit surge 61pc
PT Bank Maybank Indonesia TBK reported in a release that its net profit after tax and minority interest (PATAMI) reached Rp1.14 trillion for the financial year ended 31 December 2015, a sharp increase of 60.9 percent from the previous corresponding year.
The Bank's profit before tax also surged 59 percent from Rp973 billion in December 2014 to Rp1.54 trillion in December 2015. The solid performance was achieved on the back of better Net Interest Margin, strong growth of the Bank's fee based income, outstanding achievement in Sharia Banking, and disciplined cost management efforts.
Net Interest Income rose 9.4 percent to Rp6.49 trillion as of 31 December 2015 from Rp5.93 trillion in the previous corresponding year as the Bank's Net Interest Margin (NIM) improved to 4.84 percent from 4.76 percent. Increase in Net Interest Income (NII) was achieved through the Bank's discipline in loan pricing and active funding management.
The Bank reported 40.8 percent increase in fee based income to Rp2.73 trillion in December 2015 from Rp1.94 trillion in December 2014. The significant increase in fee based income was mainly driven by the Bank's bancassurance fees, services as arranger and advisory to its corporate clients, foreign exchange transactions, loan administration, insurance, and other services provided by the Bank.