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Maybank's fee-based income declines by 7.1%

27 October 2020 09:05

JAKARTA. PT Bank Maybank Indonesia Tbk. (BNII) recorded a 7.1% decline in its fee-based income to Rp1.7 trillion in September 2020.

Despite this, the company's recurring income rose 2.2%, mainly from costs related to the global market, bancassurance, investment and e-channel transaction costs.

Also, the growth of the company's sharia business and better cost management helped maintain its net profit at Rp1.5 trillion. 

President Director of Maybank Indonesia Taswin Zakaria said that his party continues to take proactive steps to anticipate further impacts of COVID-19 on the company's portfolio, including taking advantage of digital banking services, which are now starting to show positive results.

Maybank's funding profile has also improved, with its current account to savings account ratio rose to 39.7% in September 2020. (AM/AR)

 
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