Maybank Indonesia recorded a PBT of IDR 750 billion in the first quarter of 2023

Amid a strengthening market throughout the first quarter of 2023, the Bank posted a 30.6 percent increase in fee-based income on a quarterly basis

Jakarta (Armfalcon.com) – PT Bank Maybank Indonesia, Tbk. (Maybank Indonesia or the Bank) recorded Profit Before Tax (PBT) increasing 33.3 percent to IDR 750 billion in quarter 1/2023 year on year (yoy) from IDR 562 billion in quarter I/2022.

“This achievement was supported by an increase in income in the composition of productive assets, especially financing for the corporate and retail segments which increased amid the improving economic situation in Indonesia. In addition, the Bank also recorded an increase in revenue fees, especially from transactions Global Markets (GM) due to the revived market, the strengthening performance of its subsidiaries, and improving asset quality,” said President Director of Maybank Indonesia Taswin Zakaria in an official statement, Jakarta, Monday.

Also read: Maybank Indonesia: COVID-19 is very instrumental in accelerating digitalization

Furthermore, Maybank Indonesia also recorded Profit After Tax and Non-Controlling Interests (PATAMI) increasing 45.7 percent to IDR 566 billion from IDR 388 billion. The increase was in line with the increase in the income of the composition of the Bank’s assets so that Net Interest Income/NII of 6.7 percent (year on year/yoy) and Net Interest Margins/NIM increased 35 bps to 5.1 percent yoy.

Then, there is also an increase in income fee-based (Fee-based income) by 20.7 percent to IDR 574 billion from IDR 475 billion supported by revenue fees Global Market which grew 98.7 percent to IDR 101 billion from IDR 51 billion.

“The bank also posted an increase in revenue recovery fees assets reached more than 7x to IDR 142 billion as the Bank’s efforts to improve assets intensively in the past year. In the midst of a strengthening market throughout the first quarter of 2023, the Bank posted an increase in revenue fee-based by 30.6 percent on a quarterly basis,” said Taswin.

For total credit, Maybank Indonesia also experienced growth of 7.7 percent to IDR 107.22 trillion from IDR 99.52 trillion supported by CFS Retail credit growth of 14.6 percent to IDR 40.10 trillion from IDR 34.98 trillion, and Global Banking credit which grew 11.4 percent to IDR 39.29 trillion from IDR 35.26 trillion.

“CFS Retail Credit grew in all segments, namely, subsidiary automotive financing which grew 26.1 percent to IDR 20.54 trillion from IDR 16.29 trillion, the credit card & KTA business grew 20.6 percent yoy and Home Ownership Loans (KPR) grew 2.2 percent yoy,” he said.

In addition, Non-Retail CFS Loans decreased by 5.0 percent to IDR 27.83 trillion from IDR 29.28 trillion because the Business Banking segment decreased by 14.6 percent, while the SME + segment loans were relatively stable.” However, segment credit Retail Small Medium Enterprises (RSME) continues to grow by 2.3 percent to IDR 12.74 trillion from IDR 12.46 trillion,” he said.

Also read: Maybank Indonesia develops the MSME business as a basis for growth

source: www.antaranews.com

Source link