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.