PT Bank Maybank Indonesia Tbk reports its profit after tax and minority interests (PATAMI) surges 121.2% to Rp858 billion from Rp388 billion for the first semester ended 30 June 2016 compared to the previous corresponding period. The strong performance was mainly contributed by the improved net interest income, better growth in fee based income, continuous cost management efforts and outstanding achievement in Sharia Banking.

The bank also reports a 16.1% increase in its net interest income (NII) to Rp3.6 trillion in June 2016 from Rp3.1 trillion in the previous corresponding period. This was attributable to the bank’s discipline in loan pricing and active funding management. The bank’s net interest margin (NIM) also saw increase by 36.6% from Rp1.1 trillion in June 2015 to Rp1.5 trillion in June 2016.

The bank also continues to manage its costs well through its Strategic Cost Management Programme (SCMP) during the first six months of 2016 as reflected by the marginal increase of 6.3% in its overhead costs.

Tan Sri Dato’ Megat Zaharuddin, President Commissioner Maybank Indonesia and Chairman of Maybank Group says: “The overall improved financial performance for the first six months demonstrates the resilience of the bank…We are confident to see sustainable profitable growth for the remaining 2016.”

Business Today

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