Bank Muamalat Salurkan Sindication Credit IDR 2.5 Trillion To INKA

Illustration (Photo: Doc. Antara)

PT Bank Muamalat Indonesia Tbk led the syndicated financing to PT INKA (Persero) worth a total of IDR 2.5 trillion along with PT Bank KB Bukopin Tbk, PT Bank ICBC Indonesia, PT Bank Aceh Syariah, and PT Bank Jabar Banten Syariah.

Bank Muamalat President Director Indra Falatehan said this financing was a hybrid syndicated agreement involving Islamic banks and conventional banks.

In this syndication, Bank Muamalat acts as a Mandated Lead Arranger (MLA). Financing will be channeled as working capital for the procurement of 612 New Generation Train Units for the 2023-2026 Replacement Program.

"This syndicated financing of PT INKA (Persero) shows our commitment to supporting national development, especially in the mass transportation sector. We believe that our joining in this financing will further increase market confidence in Bank Muamalat while strengthening its portfolio in the corporate financing segment," he said.

For information, in the first nine months of 2023, Bank Muamalat recorded a positive performance.

Profit before tax for Islamic banks in the country grew 90.7 percent year on year (yoy) from IDR 40.5 billion as of September 30, 2022 to IDR 77.3 billion as of September 30, 2023.

Bank Muamalat's assets also grew by 10.7 percent (yoy) from IDR 59.8 trillion as of September 30, 2022 to IDR 66.2 trillion as of September 30, 2023.

This asset growth was supported by financing distribution which increased 22.4 percent (yoy) to Rp21.7 trillion.