Turning From The Corporate Segment, Bank Muamalat Focuss On Working On Consumer Retail

Illustration (Photo: Doc. Antara)

JAKARTA PT Bank Muamalat Indonesia Tbk refocused with a focus on the consumer retail segment. The segment is considered more in accordance with the competencies possessed by the company.

Bank Muamalat President Director Indra Falatehan said that currently the portion of financing in the corporate and SME segments still dominates, but this year Bank Muamalat has begun to shift the focus of distribution of financing to consumer retailers.

"Currently, the portion of business in corporations is still the majority, but starting this year we are slowly switching to retail, especially consumers where the corporate segment will become an entry gate. In general, we will focus on healthy business growth and produce sustainable profits. This is done by doing business refocusing. This means that we will focus on the segment where Bank Muamalat has competence in it, namely retail consumers," he said, quoted on Friday, October 13.

He added, as part of the strategy, Bank Muamalat seeks to improve all aspects of service, starting from an easy process of applying for financing, a fast Service Level Agreement (SLA) and of course a very attractive margin.

Supported by the availability of quality, varied and competitive banking products offered.

Bank Muamalat's network and distribution are also aligned with a retail strategy through the conversion of 27 cash offices in several areas to the Sub-Branch Office (KCP).

Thus, he said, Bank Muamalat will have 235 branch office networks in various parts of Indonesia that will focus on the distribution of financing or financing.

According to Indra, Bank Muamalat also boosted the distribution of home ownership financing (KPR), multipurpose, and financing to State Civil Apparatus (ASN) after the appointment of Bank Muamalat as a Salary Distribution Bank (BPG) for ASN within the scope of state-owned agencies.

After that, Indra also saw an opportunity to provide sharia banking facilities and services to retired ASN.

"Therefore, we are currently exploring cooperation with PT Taspen (Persero) to enter that segment," he added.

Bank Muamalat's seriousness in realizing business refocusing is also reflected through the Muamalat Associate Program (MAP), a training program specifically initiated for consumer segmentation.

In addition, the bank, which has been operating since 1992, is also shifting and re-skilling employees of Bank Muamalat's head office to Relationship Manager (RM) to serve consumer customers.

Bank Muamalat has also implemented a retailing strategy for the acquisition of funding or funding through the digital platform advantage currently owned by Bank Muamalat such as the Muamalat Digital Islamic Network (MDIN) and the Cash Management System (MADINA).

It is also supported by various retail funding acquisition programs which are expected to further strengthen Bank Muamalat's liquidity.

Through this business strategy, Bank Muamalat financing is targeted to grow above 40 percent and Third Party Funds (DPK) grow above 20 percent by the end of 2023.

The total assets of Bank Muamalat are expected to grow above 15 percent.