Maybank Indonesia

Financial Results

9M 2023 ended 30 September 2023

Humanising Financial Services

Table of Contents

Executive Summary

Results Overview

Shariah Banking Unit

Digital Banking

Subsidiaries

Appendix

Sustainability

Maybank Indonesia in Brief

Awards and Events Highlights

2

7

17

19

22

25

29

34

9M 2023: PBT increases 11.8% YoY to Rp1.7 trillion

Positive growth in PBT was derived from better earnings in the Bank's loan composition, particularly from the retail and RSME loans, following a continual lift in public consumption.

9M 2023 vs 9M 2022

Profit Before

PATAMI

Net Interest

Fee Income

Overhead Cost

Provisions

Tax

Margin (NIM)

11.8%

17.1%

23 bps

8.3%

6.0%

6.9%

Rp1.7 trillion

Rp1.3 trillion

5.00%

Rp1.4 trillion

Rp4.4 trillion

Rp761 billion

  • PBT and PATAMI recorded at Rp1.7 trillion and Rp1.3 trillion respectively, rose by 11.8% and 17.1% respectively deriving from better earnings in the Bank's loan composition, particularly from the retail and RSME, and lower loan loss provision as economy continued to stabilise.
  • NIM improved by 23ps YoY to 5.00% due to improvement in higher yielding assets coupled with better earning assets composition.
  • Fee income improved by 8.3% to Rp1.4 trillion driven by fees from Global Markets transactions which increased by 60.4% to Rp139 billion and recovery fees (bank only) which increased to Rp261 billion.
  • Overhead cost (OHC) stood at Rp4.4 trillion, increased by 6.0% YoY as the Bank continued to intensify its human capital capabilities with future- ready skills and improvements in business productivity through strategic hiring and training, investing in modernised IT infrastructure and cybersecurity while staying the course of M25+ strategy.
  • Provisions dropped by 6.9% YoY to Rp761 billion.

*) All numbers are based on Consolidated Financial Statements which are in accordance with accounting classification unless otherwise stated.

3

The classifications differ from published results which are in accordance with OJK's classification.

9M 2023: Loans grow while maintaining liquidity

Stable economy and improved public consumption have contributed to growth particularly in the Bank's retail loan

9M 2023 vs 9M 2022

Total

NPL

GIL

Loans

Ratio

Ratio

0.9%

20 bps

30 bps

Rp112.4 trillion

3.25%

4.50%

  • Overall Loans were rather flat; grew by about 1% YoY. However, CFS Retail grew by 13.3%, primarily from subsidiaries' auto loans (MIF at 23.7% and WOM at 24.5%) and unsecured loans. CFS Non-Retail also grew 3.1%, contributed mainly by the 6.2% growth in RSME.
  • GB declined by 10.8% YoY attributed to debtors repayment and tighter competitions.
  • Gross NPL improved YoY to 3.25%. However, gross impaired loans (GIL) ratio increased YoY to 4.50% due to higher GIL balances despite an increase in loan balances.
  • The Bank's Loan at Risk (LAR) improved to 10.67% in Sep-23 from 11.48% in Sep-22.

Healthy liquidity position; CASA

up by 1.5%

9M 2023 vs 9M 2022

Low Cost Fund

CASA

LDR Ratio

(CASA)

Ratio

(Bank only)

1.5%

2.68%

6.32%

Rp56.2 trillion

49.08%

83.89%

  • Total customer deposits grew 7.0% to Rp114.5 trillion as Time Deposits increased by 12.9% continuing its trends from the previous quarter. CASA also registered a growth of 1.5% with Current Accounts grew higher by 4.5%, while the Savings Account eased by 2.8%.
  • The Bank's CASA ratio was at 49.08% in Sep-23.
  • Healthy liquidity indicators: Loan-to-DepositRatio (LDR
    - bank only) at 83.89%, and modified LDR (bank only) at 77.69% as of Sep-23.Liquidity Coverage Ratio (LCR - bank only) quarterly stood at 222.27% as of Sep-23, well above minimum requirement.

4

9M 2023: Capital remains strong; UUS continues to expand

Strong capital position

9M 2023 vs 9M 2022

Total

CAR

Asset

3.2%

3.30%

Rp170.1 trillion

28.17%

  • Total Assets increased by 3.2% YoY to Rp170.1 trillion.
  • Strong capital position with CAR stood at 28.17% (Tier I at 27.10%).

Shariah Business Unit (UUS) recorded 66.7%

increase in PBT

9M 2023 vs 9M 2022

UUS

UUS

UUS

NPF

PBT

Asset

CASA Ratio

Ratio

66.7%

6.1%

5.38%

0.55%

Rp369 billion

Rp42.1 trillion

46.44%

2.44%

  • Shariah Banking Unit recorded a significant increase in PBT by 66.7% to Rp369 billion.
  • Financing increased by 3.2% to Rp28.9 trillion, supported by the Shariah Business Unit's SME, Corporate Banking and green financing segments.
  • Assets grew by 6.1% YoY, contributing to the Bank's standalone assets by 26.7%.
  • Customer deposits also increased substantially by 20.5%, mainly driven by higher growth in CASA of 36.3%. Shariah Banking Unit's CASA ratio went from strength to strength, achieving 46.44% in Sep-23.
  • Non-PerformingFinancing (NPF) gross improved to 2.44% in Sep-23 from 2.99% in Sep- 22.

5

9M 2023: Contribution from subsidiaries

Subsidiaries contributed positively to Maybank Indonesia

9M 2023 vs 9M 2022

MIF PBT

MIF

WOM PBT

WOM

Financing

Financing

0.7%

18.4%

5.0%

24.5%

Rp406 billion

Rp7.2 trillion

Rp179 billion

Rp5.9 trillion

  • Maybank Finance's PBT was registered at Rp406 billion, moderately eased by 0.7% from Rp409 billion owing to provisioning, one-off fee in previous year, lower loan yield due to competition, and significant drop in late fee income.
  • Maybank Finance's four-wheeledfinancing grew 18.4% to Rp7.2 trillion from Rp6.0 trillion in the same period last year.
  • WOM Finance registered an increase of 5.0% in PBT to Rp179 billion from Rp171 billion in the same period last year following a continual improvement in consumer purchase power.
  • WOM Finance's financing grew 24.5% to Rp5.9 trillion from Rp4.8 trillion.

6

Table of Contents

Executive Summary

Results Overview

Shariah Banking Unit

Digital Banking

Subsidiaries

Appendix

Sustainability

Maybank Indonesia in Brief

Awards and Events Highlights

2

7

17

19

22

25

29

34

Income Statement - Consolidated

Rp billion

9M 2023

9M 2022 *)

YoY

3Q 2023

2Q 2023

QoQ

Interest Income

8,758

7,628

14.8%

3,011

2,910

3.5%

Interest Expense

(3,350)

(2,467)

35.8%

(1,211)

(1,109)

9.2%

Net Interest Income

5,408

5,161

4.8%

1,800

1,801

0.0%

GM-related fees

139

86

60.4%

(44)

81

-153.8%

Non GM-related fees

1,292

1,235

4.7%

379

441

-13.9%

Non Interest Income

1,431

1,321

8.3%

336

521

-35.6%

Gross Operating Income

6,839

6,483

5.5%

2,136

2,322

-8.0%

Personnel

(2,263)

(2,106)

7.4%

(765)

(760)

0.7%

General & Administrative

(2,162)

(2,067)

4.6%

(716)

(730)

-2.0%

Operating Expenses

(4,424)

(4,174)

6.0%

(1,481)

(1,490)

-0.6%

Operating Income before Provisions

2,415

2,309

4.6%

655

832

-21.3%

Provisions

(761)

(818)

-6.9%

(271)

(314)

-13.7%

Operating Income After Provision

1,653

1,491

10.9%

384

518

-25.9%

Non Operating Income / (Expenses)

3

(10)

126.0%

6

(2)

359.4%

Profit Before Tax & Minority Interest

1,656

1,482

11.8%

390

516

-24.5%

Tax & Minority Interest

(409)

(417)

-1.9%

(103)

(122)

-15.3%

Profit After Tax & Minority Interest (PATAMI)

1,246

1,064

17.1%

287

394

-27.3%

* Mudharabah incentive is reclassified (as interest expense) to conform with current year's presentation

8

Loans

Overall loans were rather flat; grew by about 1% YoY

LDR & Total Loans

Rp trillion

Loans Portfolio Breakdown

Rp trillion

Sep-23

Jun-23

Sep-22

YoY

QoQ

Global Banking

40.7

40.5

45.6

-10.8%

0.4%

CFS

71.7

69.4

65.8

8.9%

3.3%

CFS Non-Retail

29.0

27.9

28.1

3.1%

3.7%

Business Banking

10.6

10.3

10.3

2.6%

2.6%

SME+

5.0

4.9

5.1

-2.3%

1.4%

RSME

13.4

12.7

12.6

6.2%

5.4%

Micro *

)

0.0

0.0

0.1

-83.7%

-12.9%

CFS Retail

42.8

41.5

37.7

13.3%

3.0%

Auto Loan

22.7

21.7

18.3

23.9%

4.4%

2-wheeler

5.9

5.8

4.8

24.5%

2.2%

4-wheeler

16.8

15.9

13.5

23.7%

5.3%

Mortgage

16.0

15.9

16.0

0.0%

0.7%

CC + Personal Loan

3.4

3.2

2.8

21.5%

5.7%

Other loan

0.6

0.6

0.6

2.3%

0.3%

Total

112.4

110.0

111.4

0.9%

2.2%

Global Banking

CFS

Foreign Exchange

Rupiah

* Micro segment is discontinued and we are running down the business

9

Asset Quality

Gross NPL improved. However, gross impaired loans (GIL) ratio increased due to higher GIL balances despite an increase in loan balances.

Impaired Loans (consolidated)

Impaired Loans - Gross

Impaired Loans - Net

NPL (consolidated)

NPL - Gross

NPL- Net

Special Mention Loans (consolidated)

Special Mention

10

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

PT Bank Maybank Indonesia Tbk published this content on 03 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 November 2023 11:48:01 UTC.