new.pefindo.com - PEFINDO assigned its “idA+” rating to PT Bank Muamalat Indonesia Tbk (BBMI or the Bank) with a ‘stable’ outlook. The rating reflects the strong support from Islamic Development Bank (IDB), high growth potential of sharia banking segment, and BBMI’s strong market position. However, the rating is constrained by the Bank’s increasing pressure in capitalization profile and moderate profitability performance. (source)
BBMI is the second largest sharia bank in Indonesia. The Bank has retained approximately 2.5 million customers of its funding and financing products. BBMI is owned by Islamic Development Bank (32.82%), Boubyan Bank, Kuwait (24.94%), Atwill Holdings Limited, Saudi Arabia (17.95%), and several other entities and individuals. IDB is rated by Standard and Poor’s at AAA/Stable.
Rating Period: March 28, 2012 – March 1, 2013
Contact Analyst: Danan Dito & Dimas Aditya
Source: http://new.pefindo.com/r_releasedetail.php?cid=1044 - April 26, 2012
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