May­bank In­done­sia’s net profit surge 61pc

The Pak Banker - - FRONT PAGE -

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.

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