PETALING JAYA: Malayan Banking Bhd's (Maybank) Indonesian unit, PT Bank Internasional Indonesia Tbk (BII), recorded a 41% consolidated loans growth in the first quarter of 2011 compared with the previous corresponding period, outpacing the industry growth of approximately 24%.
In a statement yesterday, Maybank said BII's total loan portfolio as at March 31, increased to 56.7 trillion rupiahs (RM19.6bil) from 40.3 trillion rupiahs (RM13.9bil) in the previous corresponding period. (full story)
“Corporate loans contributed the highest growth of 48%, followed by consumer and SME and commercial lending which grew by 39% and 38% respectively compared with the first quarter last year.
“Corporate loans are accounted for 23% of total loans, while SME and commercial and consumer loans contribute 36% and 41% respectively,” it said.
Total deposits from customers increased by 29% to 60.2 trillion rupiahs (RM20.9bil) as of March 31, 2011, up from 46.6 trillion rupiahs (RM16.1) a year earlier.
Despite the increase in non-performing loans (NPLs) in subsidiary WOM's portfolio, BII's gross NPL level improved to 2.57% as of March 2011 from 2.79% in the previous corresponding period while net NPLs improved to 1.40% from 1.92%.
“The NPL increase in WOM's portfolio was related to WOM's venture into second-hand motorcycle financing which we have now curtailed with improved portfolio quality,” it said
“To ensure good asset quality, the bank continues to strengthen its risk management and credit processing while implementing quicker loan restructuring programmes and closer monitoring of existing borrowers.”
In the same statement, Maybank chairman and president commissioner of BII Tan Sri Megat Zaharuddin Megat Mohd Nor said BII was on a solid growth track with its aggressive expansion plans well under way.
“We are pleased with the continued strong growth in business recorded in the first quarter, and the sound fundamentals we have laid will augur well for BII as we seek to capture an even larger slice of the market,” he said.
BANKING - 41% growth in Maybank’s Indonesian unit Q1 loans - for some reason, there is this feeling in the back of my head that says that sooner or later whole or part of BII will be incorporated in Maybank Syariah Indonesia - do I make a mistake ?
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