Theindonesiatoday.com - PT Bank Syariah Mandiri (BSM) posted net profit of Rp134.89 billion in the first quarter (Q1) of 2011, increased 54.35% compared to Rp87.39 billion in the corresponding period of last year.
It said profit growth was mainly supported by margin and sharing profit which rose 42.83% to Rp861.5 billion from Rp603.16 billion a previous year. (full story - the indonesia today)
The bank said its financing totaled Rp27.09 trillion, grew 53.48% from Rp17.65 trillion a year earlier.
It said assets increased 52.33% to Rp36.27 trillion as of March 2011, of which third party funds amounted Rp32.23 trillion.
BSM currently has 520 outlets, consisting of 120 office branches, 264 co-branches, 31 cash offices, 51 syariah service counters and 54 payment points.
BSM focus its financing on micro, small and medium business, with financing for corporates accounting for 31.94% and the rest 68.06% of financing allocating to non corporates. (hans@theindonesiatoday.com)
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