JAKARTA. PT Bank Maybank Indonesia Tbk (BNII), a private bank with total assets of IDR 171.8 trillion, booked net profit of IDR 1.74 trillion in 2023.

This net profit was reportedly 18.5% year-on-year (yoy) higher from the previous year, in which BNII only scored net profit of IDR 1.47 trillion.

Taswin Zakaria, President Director of BNII, mentioned that the company’s business growth in 2023 was supported by Indonesia’s economic condition, as well as consumer demand that was quite solid. “It allowed the company to maintain its credit portfolio growth, thus enhancing its business foundation in order to ensure business sustainability in the long run,” Zakaria added in the press release.

BNII’s net profit growth in 2023 was in line with the increase of fee-based income, which grew 15.65 yoy to IDR 2.03 trillion. This surge was further riven by Global Market (GM) transaction fee that reached IDR 181 billion, as well as GM fee that amounted to IDR 1.85 trillion.

Total credits channelled by BNII in 2023 rose 7.6% yoy to IDR 116 trillion. Meanwhile, total third-party funds collected by the company also grew 9.3% yoy to IDR 115.50 trillion.

BNII reported loan-to-deposit (LDR) ratio at the end of 2023 to arrive at 96.3%, while the capital adequacy ratio (CAR) was at 27.7%. (KR/ZH)