Dominated By Non-ASN, Bank Muamalat Payroll Savings Grow 57 Percent Throughout 2024

JAKARTA - PT Bank Muamalat Indonesia Tbk managed to record a solid performance in the payroll savings business.

Director of Bank Muamalat Karno said, payroll savings number (NoA) rose 57 percent year on year (yoy) in 2024. Transaction volume also grew 33 percent on an annual basis in the same period.

It was noted that the non-State Civil Apparatus (ASN) segment contributed 87 percent of the total volume increase. While the remaining 13 percent are contributions from the ASN segment.

Over the past year, our focus for this sector was increasing funding. Thank God the results were positive. This is reflected in the volume of payroll savings which has a double-digit yoy growth contribution to Bank Muamalat's low-cost Current Account and Saving Account (CASA) in 2024," said Karno, Friday, February 21.

Karno said, there were two approaches made by the first bank of pure sharia in Indonesia, namely externally and internally. From an external perspective, his party continues to increase cooperation with ASN work units and non-ASN agencies such as SOEs, schools, universities, hospitals, and other private agencies.

Meanwhile, from an internal perspective, the strategy is to improve the quality of payroll and benefits products obtained by customers. A number of benefits offered include cash withdrawal cashback via ATM, cashback transaction fees, special offers for multipurpose financing, as well as special margins or acceleration of other consumer financing applications processes.

Undergoing this year, Karno ensured that his party would again boost the payroll savings business. He is optimistic that the payroll portfolio throughout 2025 is expected to double compared to the achievement in 2024.

"So that the target is achieved, there are several segments that are the main targets for payroll acquisition. Among them are ASN, Muhammadiyah Charity (AUM), educational institutions, the health sector, and BUMN," concluded Karno.

To note, Bank Muamalat's iB Hijrah Payroll Savings are made to make it easier for customers to manage the required salaries and financial transactions. This sharia Savings provides convenience to payroll customers without minimum balance requirements, initial deposits, free administration fees and attractive transaction promos.