The Sun (Malaysia)

Maybank Indonesia 9-month earnings up 70.7%


PETALING JAYA: PT Bank Maybank Indonesia Tbk posted a 70.7% increase in net profit for the nine months ended Sept 30, 2015 to 592 billion rupiah (RM186 million) from 347 billion rupiah a year ago, on the back of improved net interest income (NII) and net interest margin (NIM).

The bank’s NII increased 10.5% from 4.3 trillion rupiah in September 2014 to 4.8 trillion rupiah in September 2015 as the bank’s NIM improved to 4.82% from 4.63%.

“Increase in NII was achieved through the bank’s discipline in loan pricing and active funding management,” the bank said in a statement yesterday.

It attributed the improved net profit to higher fee based income, solid growth on liquidity especially in current accounts, and outstandin­g achievemen­t in syariah banking.

Other operating revenue (fee based income) recorded an increase of 12.4% to 1.6 trillion rupiah in September compared with 1.4 trillion rupiah a year ago, driven mainly by fees from advisory activities, insurance and foreign exchange transactio­n.

Its customer deposits grew 6.8% from 103.6 trillion rupiah as of Sept 30, 2014 to 110.6 trillion rupiah as of Sept 30, 2015.

Maybank Indonesia’s total syariah financing grew 56.0% from 5.2 trillion rupiah in September 2014 to 8.1 trillion rupiah in September 2015, contributi­ng 7.3% of the bank’s total loan portfolio. Syariah banking’s net profit increased from 41 billion rupiah in September 2014 to 239 billion rupiah in September 2015.

Loans grew 6.6% to 111.5 trillion rupiah in September from 104.6 trillion a year ago, despite the challengin­g business environmen­t and weakened domestic economy. Retail banking loans grew 12.3% from 39.8 trillion rupiah to 44.7 trillion rupiah while business banking loans grew 12.2% from 38.9 trillion rupiah to 43.6 trillion rupiah.

The bank said its non-performing loans level was at 4.34% (gross) and 2.79% (net), and it remains cautious over loan quality as businesses are still impacted by the current economic slowdown and weakening rupiah.

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