KUALA LUMPUR: PT Bank Maybank Indonesia, a 97.4 per cent owned by Maybank Group Bhd, saw its profit after tax and minority interests (PATAMI) increased 3.4 per cent to Rp1.5 trillion for the nine months period ended 30 September 2018, on the back of higher net interest income (NII) and improvement in provisioning level.
It also maintained a strong capital position with total capital reaching Rp25.3 trillion.
Net interest income grew 5.5 per cent to Rp6 trillion in September 2018 compared with Rp5.7 trillion in the previous corresponding period.
As such, net interest margin expanded by 6 basis points to 5.2 per cent in September 2018 as the bank continued to implement disciplined pricing in both asset and liabilities.
The bank recorded a loans growth of 7.8 per cent to Rp131.2 trillion as at 30 September 2018 from Rp121.8 trillion in the previous year.
Further, asset quality improved significantly as reflected by lower non performing loans (NPL) levels of 2.7 per cent (gross) and 1.5 per cent (net), also within the same period compared with 3.9 per cent (gross) and 2.4 per cent (net) in the previous year.
“Despite the slow start to the year and challenging market condition, we have recaptured our momentum and are able to deliver improvement at the operating level for the nine months period,” said president director Maybank Indonesia Taswin Zakaria in a statement.
“We remain optimistic that we will be able to conclude financial year 2018 with commendable results albeit the continued challenging market conditions for the remaining year.”
President Commissioner of Maybank Indonesia and Group President & CEO of Maybank Datuk Abdul Farid Alias is also optimistic of the opportunities going forward.
“We are encouraged with the improvement in performance which reflects the Bank’s resilience amidst the challenging economic environment,” he said.
“We have strengthened our financial position and product offerings as well as risk management capabilities, and successfully leveraged the opportunities arising from the government’s various economic development projects.”