Maybank Indonesia
Financial Results
1H 2023 ended 30 June 2023
Humanising Financial Services
Table of Contents
Executive Summary
Results Overview
Shariah Banking Unit
Digital Banking
Subsidiaries
Update on Covid-19
Appendix
Sustainability
Maybank Indonesia in Brief
Awards, Events, and CSR Highlights
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1H 2023: PBT increases 34.1% YoY to Rp1.3 trillion
The Bank was able to book higher earnings from its loan portfolio and a significant increase
in fee-based income as treasury-related transactions improved.
1H 2023 vs 1H 2022
Profit Before | PATAMI | Fee Income | Overhead Cost | Provisions | Net Interest |
Tax | Margin (NIM) | ||||
34.1% | 44.7% | 25.6% | 6.4% | 8.2% | 41 bps |
Rp1.3 trillion | Rp960 billion | Rp1.1 trillion | Rp2.9 trillion | Rp490 billion | 5.06% |
- PBT and PATAMI recorded at Rp1.3 trillion and Rp960 billion respectively, rose by 34.1% and 44.7% respectively, This was derived from higher total income (NII & fee income) from its loan portfolio and a significant increase in fee-based income as treasury-related transactions improved. The Bank also recorded a continual decrease in provisions following improvement in the Bank's asset quality.
- Fee income improved by 25.6% to Rp1.1 trillion as fees from Global Markets transactions jumped by 239% to Rp182 billion and recovery fees (Bank only) increased to Rp241 billion.
- Overhead cost (OHC) stood at Rp2.9 trillion, increased by 6.4% YoY as the Bank resumed its business and operational activities and continued to intensify the development of its human capital with Future Ready skills.
- Provisions decreased by 8.2% YoY to Rp490 billion as better business climate has contributed to the improvement of loan quality and recovery of some NPL accounts.
- NIM improved by 41 bps YoY to 5.06%.
*) All numbers are based on Consolidated Financial Statements which are in accordance with accounting classification unless otherwise stated. | 3 |
The classifications differ from published results which are in accordance with OJK's classification. |
1H 2023: Loans grow while maintaining liquidity
Outstanding loans increased while maintaining asset
quality
1H 2023 vs 1H 2022
Total | NPL | GIL |
Loans | Ratio | Ratio |
2.9% | 22 bps | 98 bps |
Rp110.0 trillion | 3.30% | 4.11% |
- Overall loans grew by 2.9% YoY supported by improvements in public consumptions and consumer purchasing power. Accordingly, CFS Retail grew by 15.4%, supported by growth across all segments (mainly from subsidiaries' auto loans, followed by unsecured loans and Mortgage). Retail SME (RSME) segment also slightly grew by 1.3%.
- GB declined by 3.7% YoY due to a couple of debtors' early repayment and CFS Non Retail declined by 2.9% YoY as the Business Banking (BB) and SME+ segments declined by 6.8% and 4.0% respectively. However GB and BB booked positive growth of 3.2% and 2.7% QoQ respectively.
- Gross NPL improved YoY to 3.30% and gross impaired loans ratio improved YoY to 4.11% due to lower NPL and impaired loans balances strengthened by higher loan balances.
- The Bank's Loan at Risk (LAR) improved to 11.48% in Jun-23 from 15.27% in Jun-22.
- The Bank maintained a prudent banking approach and continued to apply a conservative risk posture.
Healthy liquidity position; CASA
was slightly down
1H 2023 vs 1H 2022
Low Cost Fund | CASA | LDR Ratio |
(CASA) | Ratio | (Bank only) |
2.7% | 76 bps | 90 bps |
Rp53.7 trillion | 48.60% | 84.92% |
- Funding profile was maintained as reflected in CASA ratio of 48.60% as of Jun-23.
- Total deposits decreased by 1.1% YoY due to a slight drop in CASA by 2.7% to Rp53.7 trillion. The Bank continues to implement a strategy to optimise low-cost funding by leveraging the Bank's digital services to acquire customer deposits.
- Healthy liquidity indicators: Loan-to-DepositRatio (LDR
- bank only) at 84.92%, and modified LDR (bank only) at 78.19% as of Jun-23.Liquidity Coverage Ratio (LCR - bank only) quarterly stood at 168.76% as of Jun-23, well above minimum requirement.
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1H 2023: Capital remains strong; UUS continues to expand
Strong capital position
1H 2023 vs 1H 2022
Total | CAR |
Asset | |
1.0% | 2.52% |
Rp165.6 trillion | 28.60% |
- Total Assets slightly decreased by 1.0% YoY to Rp165.6 trillion, but grew 2.5% QoQ with better earning asset composition.
- Strong capital position with CAR stood at 28.60% (Tier I at 27.54%).
Shariah Business Unit (UUS) continued to grow
1H 2023 vs 1H 2022
UUS | UUS | Financing to | NPF |
Asset | CASA Ratio | Deposit Ratio | Ratio |
5.2% | 5.60% | 10.58% | 0.26% |
Rp43.3 trillion | 43.30% | 71.45% | 2.60% |
- Shariah Banking Unit total assets grew by 5.2% YoY, contributing to the Bank's standalone assets by 28.2%.
- Shariah Financing grew 1.8% to Rp26.5 trillion.
- Shariah Banking Unit CASA grew strong by 31.0% with CASA ratio improved to 43.30%. The increase in CASA was in line with the Bank's strategy to maintain strong liquidity by optimising low-cost funding.
- Non-PerformingFinancing (NPF) gross improved to 2.60% in Jun-23 from 2.86% in Jun- 22.
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Disclaimer
PT Bank Maybank Indonesia Tbk published this content on 03 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 August 2023 07:41:21 UTC.