Maybank’s Indonesian unit first quarter loans up 41%
Corporate loans posted the highest growth of 48% while consumer and SME and commercial lending soared by 39% and 38%.
Malayan Banking Bhd's (Maybank) Indonesian unit, PT Bank Internasional Indonesia Tbk (BII), recorded a 41% consolidated loans growth in the first quarter of 2011 compared with the previous corresponding period, outpacing the industry growth of approximately 24%.
In a statement on Friday, Maybank said BII's total loan portfolio as at March 31, increased to 56.7 trillion rupiahs ($6.63 billion) from 40.3 trillion rupiahs ($4.71 billion) in the previous corresponding period.
“Corporate loans contributed the highest growth of 48%, followed by consumer and SME and commercial lending which grew by 39% and 38% respectively compared with the first quarter last year.
“Corporate loans are accounted for 23% of total loans, while SME and commercial and consumer loans contribute 36% and 41% respectively,” it said.
Total deposits from customers increased by 29% to 60.2 trillion rupiahs ($7.04 billion) as of March 31, 2011, up from 46.6 trillion rupiahs ($5.45 billion) a year earlier.
Despite the increase in non-performing loans (NPLs) in subsidiary WOM's portfolio, BII's gross NPL level improved to 2.57% as of March 2011 from 2.79% in the previous corresponding period while net NPLs improved to 1.40% from 1.92%.
View the full story in The Malaysian Star.