2011, Muamalat Profit Grows 60 Percent

Muamalat Bank achieved strong growth in net profit of 60.1 percent in 2011 from a year earlier. Based on the figures, these Islamic banks profit reached Rp 273.6 billion last year.

Meanwhile, assets grew 51.8 percent Muamalat. That figure exceeded the average growth of national banking assets by 21.4 percent and 49.2 percent by the Islamic banking in 2011. "As of end 2011, assets of Bank Muamalat reached Rp 32.5 trillion or an increase of Rp 11.1 trillion from the position of the end of 2010, which amounted to Rp 21.4 trillion," said Managing Director of Bank Muamalat, Arviyan Arifin, in Jakarta, Tuesday (3 / 4/2012).

Asset growth was driven in part by the growth of third party funds amounting to 53.3 percent. Deposits reached Rp 26.66 trillion Muamalat last year.

According Arviyan, the growth of these assets have an impact on market share Muamalat from 21.95 percent in 2010 to 22.33 percent in 2011 in Islamic banking. "Bank Muamalat also noted the improvement in asset quality with a reduction in net non-performing financing at the level of 1.78 percent from 3.51 percent at the end of 2010," added Arviyan.

For self-financing, Islamic banks have been channeled to Rp 22.47 trillion. Distribution of these costs grew 41.2 percent over last year. On financing, the retail sector dominates with a share of 59.4 percent or Rp 13.35 trillion of the total portfolio. Now, Muamalat was a pioneer for renewable energy financing berskema sharia. From Rp 2.25 trillion in financing for the energy sector as much as Rp 782.9 billion has been channeled one of them for renewable energy projects, ie power plants minihidro.