INDONESIA: Bank Syariah Mandiri reported a 36.64% increase in its first half net profit to IDR270 billion (US$31.7 million) compared to IDR197.6 billion (US$23.2 million) in the same period last year.
The increase was mainly contributed by the bank’s financing margin and profit sharing income, growing by 39.84% to IDR1.79 trillion (US$210 million) from IDR1.28 trillion (US$150.15 million) in the six month period ended the 30th June 2010.
Total financings also experienced a year-on-year increase of 51.28% from IDR19.87 trillion (US$2.33 billion) in 2010 to IDR30.06 trillion (US$3.53 billion) this year.
The bank’s assets stood at IDR26.83 trillion (US$3.15 billion), rising by 44.99% against last year’s IDR38.25 trillion (US$4.5 billion) while deposits rose by 45.56% to IDR33.96 trillion (US$4 billion) from IDR23.33 trillion (US$2.74 billion).
The bank’s capital adequacy ratio, financing to deposit ratio, net non-performing financing, return on assets and return on equity were at 11.24%, 88.52%, 1.14%, 2.12%, and 68.22% respectively.