KUALA LUMPUR: Maybank Indonesia’s profit before tax (PBT) rose 23.9 per cent to 944 billion rupiah (1 million rupiah=RM299.64) in the first half of 2022 (1H 2022) from 762 billion rupiah in the same period last year.
Profit after tax and minority interest (PATAMI) also improved by 30 per cent to 663 billion rupiah from 510 billion rupiah in the previous year.
In a statement, Maybank Indonesia said the rise in both PBT and PATAMI came from a gradual improvement in the economy in 1H 2022, contributing to the loan demand increase.
"The results were mainly from reduced loan provisions due to improved loan quality and supported by loan growth, lower cost of funds and well-maintained overheads,” it said.
The bank said the total outstanding loans grew 8.1 per cent to 106.81 trillion rupiah from 98.8 trillion rupiah in the previous year.
"This is the first increase in loans since the pandemic, led by the global banking segment, which grew 16.7 per cent to 42.09 trillion rupiah from 36.07 trillion rupiah in the previous year,” it said.,
Meanwhile, the total outstanding loan in the Community Financial Services segment grew 3.2 per cent to 64.73 trillion rupiah from 62.73 trillion rupiah in the previous year.
Maybank Indonesia president director Taswin Zakaria said the bank would continue its strategies and initiatives to ensure sustained growth in its loan portfolios.
"Given the uncertainties arising from geopolitical and recent market conditions, we will remain prudent in managing our business, and emplace necessary precautions to safeguard our assets, as well as maintain risk posture to withstand any unforeseen global threats,” he said.
Meanwhile, Malayan Banking Bhd (Maybank) group president and chief executive officer Datuk Khairussaleh Ramli said Maybank Indonesia was able to capture business opportunities across its various segments and drive growth as economic momentum started to return in 2022.
"Backed by strong fundamentals and supported by effective risk management, I am confident that Maybank Indonesia will be able to navigate through potential market volatilities it may experience in the coming quarters,” he said.
The bank's Shariah banking unit’s operating profit before provision increased 11.1 per cent to 382 billion rupiah as financing grew 5.3 per cent to 26.04 trillion rupiah from 24.74 trillion rupiah, and lower cost of funds as current account savings account grew significantly.
The total Shariah banking unit’s assets grew 13.2 per cent to 41.14 trillion rupiah from 36.35 trillion rupiah, accounting for 26.2 per cent of the bank’s individual assets. - Bernama