JAKARTA. PT Bank Multiarta Sentosa Tbk (MASB) in the third quarter of 2022 recorded net profit growth of 61% year-on-year (yoy), bringing it to IDR 242.95 billion despite the declining third-party funds.
Based on the financial report of MASB that was published yesterday (31/10), the company is said to also see a 25% increase in its net interest income (NII) to IDR 574.52 billion in Q3 2022, thanks to a 25% decrease in its interest expenses. Meanwhile, the operating expenses of this Wings Group’s bank only climbed 2% to IDR 255.02 billion, allowing the operating profit to reach IDR 319.50 billion or soaring 54% yoy.
MASB’s channelled credits clocked up to IDR 8.72 trillion in Q3 2022, shifting 16% higher from the credits in September 2021 of IDR 7.51 trillion. Meanwhile, as of September 2022, its assets slipped off 14% yoy to IDR 20.12 trillion due to a 20% downturn in its third-party funds.
In May 2022, Bank Multiarta Sentosa revealed its plan to adopt ecosystem of Wings Group as one of strategic initiatives of the company in developing bank digitalisation. Danny Hartono, President Director of Bank Multiarta, claimed that the digitalisation process of the company will focus on establishing a digital banking platform and making the most out of the potential in Wings Group’s ecosystem as its main shareholder of MASB. (AM/ZH)