Maybank Indonesia 1Q pre-tax profit jumps 33%

KUALA LUMPUR: Malayan Banking Bhd’s (Maybank) 98.52%-owned PT Bank Maybank Indonesia Tbk (Maybank Indonesia) saw its pretax profit jump 33.3% to 750 billion rupiah (RM228.15mil) in the first quarter ended March 31 from 562 billion rupiah (RM171mil) last year.

The bank said this was derived from improved earnings on its assets composition due to an increase in loans as demands for corporate and retail loans increased in line with the improvement in the economy in Indonesia.