Maybank Indonesia posts record profit

Companies that provide short-term consumer loans at high interest rates are on the increase in countries like Indonesia and the Philippines as many people struggle to get advances through traditional channels such as banks.

PETALING JAYA: Maybank Indonesia has recorded a new high of 2.2 trillion rupiah (RM635.93mil) in its profit after tax and minority interests (Patami) for the financial year ended Dec 31, 2018.

This is an increase of 21.6%, on the back of higher net interest income and continued improvement in asset quality, which saw lower levels of non-performing loans (NPL).