KUALA LUMPUR: Maybank Indonesia posted a profit before tax (PBT) of 1.48 trillion rupiah and profit after tax and minority interest (Patami) of 1.06 trillion rupiah in the first nine months to Sept 30.
“The bank’s PBT and Patami remained comparatively stable to last year’s results. Despite a growth in loans, interest income was lower due to lower loan yields, which were impacted by the tight competition for loans.
“However, the bank also booked lower provisions as loan quality and cost of funds improved, and well-contained overheads,” Maybank Indonesia said in a statement.
Its net interest margin (NIM) grew slightly by two basis points to 4.8% in September 2022 due to the lower cost of funds.
The bank registered fee-based income, excluding global market fees of 1.23 trillion rupiah.
However, its global market fees declined 63.7% due to the global interest rate environment and volatile markets, resulting in a decrease of total fee income by 10.4% year-on-year (YoY).
The bank’s total outstanding loans grew 12.8% to 111.45 trillion rupiah from 98.78 trillion rupiah last year.
Its global banking segment grew exponentially by 25.0% to 45.63 trillion rupiah from 36.50 trillion rupiah last year.
Meanwhile, its community financial services (CFS) loan segment comprising of retail and non-retail loan segments grew 5.7% to 65.81 trillion rupiah from 62.29 trillion rupiah in the same period a year ago.
Non-retail loan specifically for retail small and medium enterprises (RSME) grew 5.7% to 12.76 trillion rupiah from 12.07 trillion rupiah.
Loans for SMEs grew 1.3% to 5.08 trillion rupiah from 5.01 trillion rupiah due to the resumption of business and market activities.
Maybank Indonesia's business banking loans portfolio experienced a decrease of 14.9% which resulted in a decline of 3.6% Y-o-Y of the overall balance of the CFS Non-retail loan segment.
The bank’s consolidated CFS Retail loan segment grew 13.8% to 37.74 trillion rupiah from 33.18 trillion rupiah in the same period last year, backed by improving consumer purchasing power.
Its credit card business and personal loans grew 12.5% to 2.83 trillion rupiah from 2.51 trillion rupiah, followed by growth in subsidiaries’ automotive financing of 20.0% to 18.33 trillion rupiah from 15.27 trillion rupiah.
Mortgage loans continued to show growth since early 2022, increasing 8.2% to 16.03 trillion rupiah from 14.82 trillion rupiah last year.
Its total customer deposits grew 5.0% to 107.00 trillion rupiah from 101.88 trillion rupiah in the same period last year.
The bank’s CASA grew 21.6% of which current account increased 33.9% to 32.44 trillion rupiah from 24.24 trillion rupiah while savings account increased 7.6% to 22.93 trillion rupiah from 21.31 trillion rupiah last year.
Its CASA ratio improved and was higher at 51.8% in September 2022 from 44.7% in September 2021.
Following the improvements in the overall economic outlook, the Bank saw a decrease in provisions for impairment losses by 23.1% to 818 billion rupiah, contributed by the bank’s continued success in its restructuring efforts in particular for customers’ loans impacted by the pandemic.
Maybank Indonesia’s consolidated non-performing loan (NPL) ratio improved to 3.5% (gross) and 2.5% (net) in September 2022 from 4.6% (gross) and 2.9% (net) in September 2021 and from 3.7% (gross) and 2.6% (net) in December 2021.
There is a decrease in NPL balances by 16.3% Y-o-Y. The bank maintained a prudent banking approach and continued to apply a conservative risk posture.
Its liquidity remains strong with loan to deposit (LDR) ratio at a healthy level of 90.2%, while its liquidity coverage (LCR) ratio stood at 176.9% in September 2022, exceeding the regulator’s minimum level of 100%.
The bank’s capital adequacy ratio (CAR) remained strong at 24.7% in September 2022, with total capital of 28.02 trillion rupiah in September 2022.
Maybank Indonesia president director Taswin Zakaria said Maybank Indonesia continued to deliver strong performance reflected in the bank’s pre-tax profit and robust loan growth as the market in Indonesia continued to improve in nine months of 2022, despite being impacted by global market volatility.
“During the period, Maybank Indonesia focused on our growth strategies, which has contributed to the bank’s profitability. We will remain disciplined in maintaining our liquidity and capital, while at the same time continue with our efforts to drive business growth by strengthening our productivity across the bank’s key business segments, and our digital transformation to increase our operational and business agility, enabling us to navigate the challenges and opportunities ahead,” he said.
