KUALA LUMPUR, May 19 — PT Bank Maybank Indonesia Tbk has recorded a higher profit after tax and minority interest (PATAMI) of 538.2 billion rupiah (1,000 rupiah or Rp=RM0.29) for the first quarter ended March 31, 2020 (Q1 2020), up 29.7 per cent from earnings reported in the corresponding period last year.
The bank in a statement today said the robust increase in PATAMI was due to the improvement in fee-based income, as well as sustained strategic cost management.
The bank saw healthy growth of 16.0 per cent in fee-based income to Rp597.6 billion in March 2020 compared with Rp515.0 billion in March 2019, mainly from Global Market related fees, bancassurance, investment, and e-channel transaction fees.
“Maybank Indonesia was able to improve its funding profile as reflected by its improved CASA (current and savings accounts) ratio from 31.7 per cent in March 2019 to 37.4 per cent in March 2020, in which savings accounts increased 18.1 per cent.
“The improvement in CASA was a result of the bank’s strategy to reduce higher cost of funds which has been implemented since the second semester of 2019 to manage the bank’s liquidity surplus which was built to mitigate unforeseen risks during the first half of the year,” it said.
The bank’s digital banking platform, M2U, also contributed to the improvement in CASA ratio as it provides a simple yet speedy account opening process.
Meanwhile, its Shariah Banking’s total financing as of March 2020 was at Rp24.4 trillion compared with Rp24.7 trillion last year. — Bernama
