Asset Revaluation Boosts Bank Muamalat's Profit Fivefold

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29/08/2017 12:05 WIB

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Good Muamalat Bank Transactions June 2014 - June 2017

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Good Muamalat Bank Transactions June 2014 - June 2017

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Following the cancellation of the new investor's entry, Bank Muamalat's President Director, Endy Abdurrahman, is reportedly going to resign. The planned capital injection from PT Minna Padi Investama Sekuritas Tbk (PADI) was rejected by the shareholders. To increase its capital, Bank Muamalat is planning to seek new investors. Now, Bank Muamalat is collaborating with Samuel Sekuritas to find new investors.

Based on the published financial report, Bank Muamalat's profit in the first half of 2017 surged more than fivefold to Rp 139.97 billion compared to the first half of the previous year. However, this surge in profit was not due to strong performance, but rather to gains from the revaluation of fixed assets.

The Minimum Capital Adequacy Ratio (KPMM) as of June 2017 slightly improved, increasing to 12.97 percent from 12.74 percent in June of the previous year. Similarly, the loan loss reserve ratio (CKPN) also improved, decreasing to 2.67 percent from 4.22 percent. Meanwhile, the Net Interest Margin (NI) ratio decreased to 2.69 percent from 3.65 percent.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."