Bank Maspion Owned By Conglomerate Alim Markus Brings Good News: Earns Rp49.67 Billion In Profit, Grows 19 Percent

Maspion Bank Building. (Photo: Wikimedia Commons)

JAKARTA - PT Bank Maspion Indonesia Tbk (BMAS) posted a brilliant performance in the first nine months of this year. The bank owned by the conglomerate Alim Markus recorded net profit growth in the third quarter of 2021.

In Bank Maspion's financial report, quoted on Wednesday, November 10, Bank Maspion posted a net profit for the year of Rp49.67 billion as of September 2021. Bank Maspion's profit rose 19 percent year-on-year (yoy) from profit for the same period last year. then worth Rp41.74 billion.

Profit growth was supported by an increase in interest income by 46 percent yoy or Rp656.5 trillion. Meanwhile, interest expense increased to 67 percent yoy or was at minus Rp452.2 billion in the third quarter of this year.

Meanwhile, net interest income rose 13 percent yoy to Rp204.3 billion. Maspion Bank noted that loans increased by 19 percent year-to-date (ytd) in the third quarter of this year.

Loans disbursed amounted to Rp6.90 trillion as of December 31, 2020, increasing to Rp8.22 trillion as of September 30, 2021. Similarly, third-party funds (DPK) grew by 42 percent ytd to Rp11.65 trillion.

This growth came from low-cost funds in the form of demand deposits and savings (CASA) which grew by 14 percent ytd, from Rp1.70 trillion to Rp1.94 trillion. From there, Maspion Bank's total assets increased by 37 percent ytd.

BMAS's total assets as of December 31, 2020, amounted to Rp10.11 trillion, increasing to Rp13.88 trillion as of September 30, 2021. In addition, Bank Maspion was also recorded to have a non-performing loan (NPL) ratio at the level of 2.92 percent gross and 2.80 percent net by 30 September 2021.