Bank Syariah Mandiri net profit grows 42.87% in Q1

Donald Banjarnahor

May 22, 2012 15:29

JAKARTA: PT Bank Syariah Mandiri, Indonesia biggest sharia-based bank, pocketed IDR192.72 billion (US$20.7 million based on IDR9,268/US$) in January to March, rose 42.87% than IDR134.89 billion on the same period last year.

The hike was due bigger revenue and profit sharing that increased by 24.76% to IDR1.07 trillion from IDR860 billion.

Financing rose 38.21% to IDR37.44 trillion than IDR27.09 trillion on the same period last year.

BSM’ assets also significantly increased by 36.80% to IDR49.62 trillion in March compared to IDR36.27 trillion in March 2011 underpinned by third party fund that increased 33.15% to IDR42.91 trillion from IDR32.23 trillion.

BSM’ capital strengthened by 38.78% to IDR3.27 trillion per March 2012 from IDR2.35 trillion on the same period last year due to hike in paid-in capital and profit. (T05/aph)

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