KUALA LUMPUR: Maybank Indonesia has raked in 444 billion rupiah in net profit for the first quarter ended March 31, 2016, representing a 73.7% gain from a year ago.
The improvement was due to better net interest income, fee based income, continuous cost management efforts and achievements in Syariah banking.
Net Interest Income (NII) rose 8.8% to 1.73 trillion rupiah during the quarter from 1.59 trillion rupiah in the previous corresponding period, while the Net Interest Margin (NIM) remained stable at 4.8%.
Increase in NII was driven by Maybank Indonesia’s discipline in loan pricing and active funding management.
Fee based income grew 10.7% to 687 billion rupiah in March 2016 from a year ago from treasury related fees, the bancassurance fees, loan & retail administration and other services.
Maybank Indonesia recorded modest loans growth of 4.8% in the first quarter 2016 from 107.6 trillion rupiah in March 2015 to 112.9 trillion rupiah in March 2016.
Total customer deposits grew by 9.3% with the Loan-to-Deposit Ratio was at a healthy 87.6% and the bank’s consolidated modified Loan to Deposits Ratio at 80.6%.
The bank’s consolidated NPL level was at 3.7% (gross) and 2.5% (net) as of March 31, 2016 compared to 2.8% (NPL gross) and 1.9% (NPL net) in the previous period.
“We started the new financial year with promising results in the midst of challenging market conditions, and we expect to see further growth and improvement in our performance for the financial year 2016,” said Maybank Indonesia president director Taswin Zakaria.
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