Net Profit of Maybank's Indonesian Unit Up 12 Pct to 1.4 Tril Rupiah From Jan-Sept 2017

KUALA LUMPUR, Oct 30 (Bernama) – Malayan Banking Bhd's (Maybank) Indonesian unit, PT Bank Maybank Indonesia Tbk, posted a net profit after tax and minority interest of 1.4 trillion rupiah (RM1 = 3,206 rupiah) from January to September 2017, up 12 per cent from 1.3 trillion rupiah in the same period last year. In a statement Monday, Maybank said, for September 2017, it also recorded a higher pre-tax profit of 2 trillion rupiah from 1.8 trillion in September 2016. Maybank said the improved performance was mainly contributed by the loan growth, in particular global banking, effective cost management control and outstanding achievement in shariah banking segments. "Global banking loans saw a robust loan growth of 29 per cent to 28.2 trillion rupiah in September 2017 on the back of infrastructure financing in line with the Indonesian government’s initiatives. "The community financial services (CFS) non-retail loans, which comprise micro, small and medium enterprises and business banking grew by 3.4 per cent to 51.4 trillion rupiah in September 2017 from 49.7 trillion rupiah in the same month of previous year," it said. On shariah banking, it said, the segment continued to record outstanding performance in the nine months of 2017, with the net profit increased by 63.3 per cent to 561.6 billion rupiah. The bank's loan-to-deposit ratio (bank only) stood at a healthy level of 87.6 per cent, while the loan-to-funding ratio (bank only) was at 86.3 per cent as of September 2017. Moving forward, Maybank Indonesia President Director, Taswin Zakaria, said the bank would continue to reap more benefits from its global banking segment and seize opportunities to expand its CFS non-retail segment in the coming quarters. Maybank Group President/ Chief Executive Officer and Maybank Indonesia President Commissioner, Abdul Farid Alias, said he was confident the bank would remain on steady growth trajectory for the final quarter of 2017 and create further value for all of its stakeholders. -- BERNAMA