INDONESIA - BANKING - Lucky draw’ program helps Permata ad Permata Syariah

www.thejakartapost.com - PT Bank Permata (BNLI) has reported more than 30 percent increases in its third-party funds each year for the last two years following the launch of the bank’s family oriented lucky draw program.

“The lucky draw program has become one of our successful keys to getting more customers and [we] derived a significant amount of third-party funds. Looking at those achievements, we are eager to carry it out again,” Permata e-Channels’ head, Bianto Surodjo, said during the launch of the bank’s third lucky draw program on Thursday.

The four-month program, called PermataFamillionaire, offers total prizes of Rp 8 billion (US$872,000) and up to 2 percent extra interest savings to lure families to open accounts with Permata.  (source)

INDONESIA - BANKING - 2012, Bank Permata Syariah Target Market Increase Five Percent

REPUBLIKA.CO.ID, JAKARTA - sharia business unit (UUS) Bank Permata, Permata Syariah Bank, target of sharia would gain market share by five per cent of the country in 2012. Currently, the total market share of 3.4 per cent of Islamic banking, Bank Permata Syariah still has a minimal contribution by two percent.

According to the Head of Bank Permata Syariah, Ahmad K Permana, Permata Syariah Bank will develop business on all fronts. Bank Permata Syariah During this new focus on consumer businesses such as financing vehicles. (source)

INDONESIA - BANKING - Bidders Pulled Out From Bank Muamalat Stake Sale

JAKARTA -(Dow Jones)- Bidders have pulled out of negotiations to buy a stake in Indonesian Shariah lender PT Bank Muamalat, a person familiar with the matter said Thursday.

"All bidders are out now. They don't agree with the terms and conditions, which also include the price," said the person, who declined to be named. (source)

BANKING - Race is on (Bank Muamalat)

Race is on It looks like the race to acquire a chunk of Indonesia’s Bank Muamalat is narrowing, with British
bank Standard Chartered apparently in pole position.  

Bank Muamalat was Indonesia’s first Shari’ah compliant bank, starting operations in 1992. It now serves about three million customers in Indonesia and Malaysia and had piqued the interest of Qatar’s largest Islamic bank, Qatar Islamic Bank and local operator Bank Mega, as well as Standard Chartered because of its strategic positioning in what many analysts regard as one of the most significant Islamic banking markets of the future. (source)

BANKING - StanChart considers bid for Indonesia Islamic lender Bank Muamalat

HONG KONG/JAKARTA, June 20 (Reuters) - Standard Chartered Plc is planning to bid for a controlling stake in Indonesia's PT Bank Muamalat alone as StanChart's affiliate has dropped out of the race, sources with direct knowledge of the matter told Reuters on Monday. 

Qatar Islamic Bank and Bank Mega TBK were among suitors that submitted second-round bids ahead of last week's deadline, sources added.(source)

BANKING - Permata Syariah gains IDR59 billion profit

JAKARTA: Subsidiary of PT Bank Permata Tbk, Bank Permata Syariah, booked an increase in net income up to 100% from IDR29 billion in the H1/2009 to IDR59 billion in H1/2010.

Achmad K. Permana, Head Permata Syariah, said that the increasing net income was supported by the increases in revenue and financing such as margin of murabahah and lease of ijarah muntahiyah bittamlik (IMBT) amounting IDR68 billion or rose 72% from IDR39.5 billion in the same period last year.