Maybank Indonesia's net profit surged 61% in 2015

Net profit after tax and minority interest reached Rp1.14 trillion.

PT Bank Maybank Indonesia Tbk reported in a release that its net profit after tax and minority interest (PATAMI) reached Rp1.14 trillion for the financial year ended 31 December 2015, a sharp increase of 60.9% from the previous corresponding year.

The Bank’s profit before tax also surged 59% from Rp973 billion in December 2014 to Rp1.54 trillion in December 2015. The solid performance was achieved on the back of better Net Interest Margin, strong growth of the Bank’s fee based income, outstanding achievement in Sharia Banking, and disciplined cost management efforts.

Net Interest Income rose 9.4% to Rp6.49 trillion as of 31 December 2015 from Rp5.93 trillion in the previous corresponding year as the Bank’s Net Interest Margin (NIM) improved to 4.84% from 4.76%. Increase in Net Interest Income (NII) was achieved through the Bank’s discipline in loan pricing and active funding management.

The Bank reported 40.8% increase in fee based income to Rp2.73 trillion in December 2015 from Rp1.94 trillion in December 2014. The significant increase in fee based income was mainly driven by the Bank’s bancassurance fees, services as arranger and advisory to its corporate clients, foreign exchange transactions, loan administration, insurance, and other services provided by the Bank.
 

Sharia Banking continued to demonstrate its strong performance throughout 2015 with total financing grew 52.8% from Rp5.68 trillion in December 2014 to Rp8.67 trillion in December 2015 and total deposits grew 53.6% from Rp4.16 trillion to Rp6.39 trillion. Sharia Banking’s total assets increased 122.7% to Rp16 trillion, contributing 10.1% of the Bank’s total assets while its net profit impressively increased 192.7% to Rp287.92 billion in December 2015 from Rp98.36 billion in December 2014.

The Bank saw loans growth of 5.9% to Rp112.5 trillion as of 31 December 2015 from Rp106.3 trillion as of 31 December 2014. Business Banking and Retail Banking continued to book strong loans growth, while Global Banking remained focused on re-profiling and re-aligning corporate portfolio to the overall strategy of providing services for State Owned Enterprises and top tier corporate.