INDONESIA - BANKING - Bank Muamalat boosts gross profit by 93,15%

en.bisnis.com - JAKARTA: PT Bank Muamalat Indonesia Tbk booked IDR270 billion of gross profit throughout the year, rose 93.15% from the same period last year.

 

The growth of the earnings before tax was due to bigger margin income from its financing, said Director of Retail Banking Adrian A. Gunadi. Up to September, financing rose 45.24% to IDR20 trillion from IDR13.77 trillion. (source)

 

Most of its financing was channeled to retailers by 65% or IDR13 trillion and the remaining was given to commercial and corporate clients. Consumer loan, particularly for property, dominated the portion followed by multifinance and cooperative. 

 

"From the total IDR6.3 trillion consumer financing portfolio, IDR3 trillion was channeled to housing financing," Adrian said.

 

Bank Muamalat was established in 1991 by local and foreign investors. Islamic Development Bank owns 32.82% of the Islamic bank's share, Boubyan Bank Kuwait has 24.94%, Atwill Holdings Limited holds 17.95% and public trades the rest 5%.

 

Retail segment also motored the growing third party fund, which grew by IDR7.15 trillion to IDR21 trillion in total. The retail clients contributed IDR14 trillion of its third party fund. 

 

"Saving and current account represented 50% of the total of retail’s third party fund. The rest 50% was in deposit,” Adrian detailed. (20/t05/ags)

 

Source : http://en.bisnis.com/articles/bank-muamalat-boosts-gross-profit-by-93-15-percent  - Oct 20, 2011