Quarterly net profit up 30% for Maybank Indonesia

Maybank Indonesia also reported improved current-account-savings-account ratio from 31.7% in March 2019 to 37.4% in March 2020, in which savings accounts increased 18.1%. (File pic shows the Maybank HQ in KL.)

PETALING JAYA: PT Bank Maybank Indonesia Tbk (Maybank Indonesia) saw its net profit grow 29.7% to 538.2 billion rupiah for the first quarter ended March 31, on improvement in fee based income, as well as sustained strategic cost management.

The bank reported a growth of 16% in fee based income to 597.6 billion rupiah in March compared with 515.0 billion rupiah in March 2019, mainly from global market related fees, bancassurance, investment, and e-channel transaction fees.