Jakarta. Maybank Indonesia recently announced that it had booked a profit before tax, or PBT, of Rp 1.48 trillion ($94.8 million) in the first nine months of 2022.
The bank’s profit and tax and minority interest (Patami) stood at Rp 1.06 trillion.
Maybank Indonesia also reported that its net interest margin (NIM) grew slightly by 2 percentage points to 4.8 percent in September 2022 due to the lower cost of funds, according to the bank’s press release.
For the nine months of 2022, Maybank Indonesia registered a fee-based income, excluding the global market fees, of Rp1.23 trillion, which was attributed to loan and retail business-related fees and fees from subsidiaries.
However, the bank’s global market fees declined 63.7 percent due to the global interest rate environment and volatile markets, decreasing total fee income by 10.4 percent year-on-year. Maybank Indonesia’s total outstanding loans grew 12.8 percent to Rp111.45 trillion as of 9MFY2022.
Maybank Indonesia’s community financial services (CFS) loan, which comprises retail and non-retail loan segments, rose 5.7 percent to Rp 65.81 trillion.
Non-retail loans specifically for retail small and medium enterprises (RSME) reached Rp 12.76 trillion, thus booking a 5.7 percent growth. In the larger loan segment, loans for small and medium enterprises (classified by the bank as SME+) increased by 1.3 percent to Rp5.08 trillion. The business banking loans portfolio experienced a decrease of 14.9percent which resulted in a decline of 3.6 percent Y-o-Y of the overall balance of the CFS non-retail loan segment.
Total customer deposits grew 5 percent to Rp 107 trillion, while the bank’s current accounts saving accounts (CASA) posted a 21.6 percent growth. CASA jumped 33.9 percent to Rp 32.44 trillion in the nine months of 2022. Maybank Indonesia also revealed a 7.6 percent increase in its savings account which reached Rp 22.93 trillion in the said period.
The bank's CASA ratio stood at 51.8 percent in Sep. 2022. This was higher than that of Sep. 2021, which reached 44.7 percent. The bank’s consolidated non-performing loan (NPL) ratio had also improved to 3.5 percent (gross) and 2.5 percent (net) in Sep. 2022. There is a decrease in NPL balances by 16.3 percent Y-o-Y.
Maybank Indonesia also reported that its capital adequacy ratio (CAR) remained strong at 24.7 percent in September 2022, with total capital of Rp28.02 trillion.
M2U, Maybank’s digital banking platform for retail customers, registered a 24.8 percent increase in transactions to approximately 13.1 million in nine months of 2022.
The platform posted 10.5 million transactions last year. Transaction value also grew from Rp 55.16 trillion to Rp 71.05 trillion, followed by more than 1,000 percent growth in new customer acquisitions through the digital platform.
On its M2E platform, which is dedicated to corporate customers, transactions jumped 32.2 percent to more than 3.1 million in 9MFY2022 from a year ago, with its total value rising 34.9 percent to Rp 528.15 trillion. Active users grew 6.9 percent to 2,926 users from 2,737 users during the same period.
“During the period, Maybank Indonesia focused on our growth strategies, which has contributed to the bank's profitability,” Maybank Indonesia president director Taswin Zakaria said in a statement.
“We will remain disciplined in maintaining our liquidity and capital, while at the same time continuing 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.