JAKARTA - PT Bank Maybank Indonesia TBk (BNII) announced its net profit in the first quarter of this year amounting to Rp 538.2 billion. This achievement increased by 29.7% compared to the same period last year, supported by an increase in fee-based income and sustained strategic costs management.
Maybank Indonesia recorded fee-based income growth of 16.0% to Rp 597.6 billion in March 2020 compared to Rp 515.0 billion in March 2019, mainly supported by increased Global Market fees, bancassurance, investment and electronic network transactions fee (e-channel).
Moreover, the company's CASA also increased from 31.7% in March 2019 to 37.4% in March 2020 where savings increased by 18.1%. The increase in CASA is also the result of the Bank's strategy implemented since the second semester of 2019 to reduce the high-cost liquidity surplus owned by the Bank to mitigate unexpected risks during the first half of 2019.
On the other hand, the Bank’s total credit fell by 9.5% to Rp 122.9 trillion in line with the Bank's strategy to take conservative steps and adjust to the Bank's posture and risk appetite in maintaining its portfolio, especially in the current pandemic situation. (LM)