Robust Profits Reported by Maybank Indonesia in 1H 2021 Supported by Shariah Banking Unit

On the back of solid growth in its Shariah Banking Unit, Maybank Indonesia saw IDR 762 billion in profit before tax in the first half of 2021 (1H 2021). Maybank Indonesia's Shariah Banking Unit’s profit before tax was up 67.6%, reaching IDR 294 billion in the same period, despite adverse market conditions.

Why it Matters?

Maybank Indonesia continued with the implementation of its Shariah First strategy, promoting Islamic financial solutions via a Leveraged Model. As a result, the Shariah Banking Unit was allowed to access and utilise all of Maybank Indonesia’s resources and networks to market and distribute its Shariah-compliant products. This significantly aided the performance of the Shariah Banking Unit.

Details

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