Jumat 29 Mar 2024 01:08 WIB

Financing Grew Positively, Bank Muamalat Assets Increased

The growth of Bank Muamalat's assets increased financing and DPK.

Rep: Dian Fath Risalah/ Red: Erdy Nasrul
President Director of PT Bank Muamalat Indonesia Tbk, Indra Falatehan
Foto: Republika/Thoudy Badai
President Director of PT Bank Muamalat Indonesia Tbk, Indra Falatehan

REPUBLIKA.CO.ID, JAKARTA -- PT Bank Muamalat Indonesia Tbk recorded total bank assets only (audited) of Rp 66.9 trillion in 2023. The value grew by 9 percent year on year (yoy).

Bank Muamalat President Director Indra Falatehan said that the growth of Bank Muamalat's assets was supported by an increase in financing by 19 percent (yoy) to Rp 22.5 trillion. Third Party Funds (DPK) increased by 3 percent (yoy) to IDR 47.6 trillion, of which low-cost funds or Current Account and Saving Accounts (CASA) increased by 8.5 percent (yoy) to Rp 23.7 trillion.

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“Despite the potential risk of economic slowdown and uncertainty in global financial markets throughout 2023, thank God Bank Muamalat can post a positive performance. This is characterized by continued growth in assets, financing and Third Party Funds (DPK). The profit before tax was recorded at Rp 14.1 billion,” Indra said in a statement on Thursday (28/3/2024).

Until the end of last year, Bank Muamalat's total capital was recorded at Rp 7.0 trillion with a capital adequacy ratio (CAR) of 29.42 percent well above the regulatory threshold. While the quality of financing was also positive with the net Non Performance Financing (NPF) ratio falling from 0.86 percent to 0.66 percent as of December 31, 2023.

Bank Muamalat will strive to increase profitability this year. One of them is by reducing margin burden through the accumulation of cheap funds.

“We continue to maximize the acquisition of cheap funds through digital channels such as the mobile banking application Muamalat DIN and the Madina internet banking service,” he said.

In order to spur the growth of low-cost funds, Bank Muamalat encourages increased account opening online through the digital customer on board feature. Online account openings via Muamalat DIN have reached an average of 350 accounts per day or increased more than threefold.

Muamalat DIN has been used by more than half a million active users. Currently, Muamalat DIN has 198 features since it was first launched in November 2019, with the number of transactions reaching approximately 56.7 million and transaction volume reaching more than Rp 76 trillion by the end of 2023.

Madina's overall users increased by 18 percent (yoy) or increased by more than 1,500 users. In addition, the Virtual Account (VA) service integrated with Madina has also increased. The number of transaction frequencies of VA Bank Muamalat rose 12 percent (yoy) to more than 3.5 million transactions.

To provide excellent customer experience, Bank Muamalat also continues to develop its office network. As of 31 December 2023, Bank Muamalat has 239 office networks consisting of 80 Main Branch Offices (KCU), 155 Maid Branch Offices (KCP), spread across 36 provinces in Indonesia and 1 branch office in Kuala Lumpur, Malaysia.

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