Bank Laba Maybank Down 3.3% in Q3 2021

PT Bank Maybank Indonesia Tbk reported a net profit of Rp 1.06 trillion for the third quarter of 2021. This represents a 3.3% decrease year-on-year (yoy) compared to Rp 1.01 trillion in the same period of the previous year.

This profit is lower than that achieved before the Covid-19 pandemic. Bank Maybank Indonesia's net profit for the January-September 2019 period was Rp 1.10 trillion.

Bank Maybank Indonesia's net profit reached its highest point in the last five years in the January-September 2018 period, reaching Rp 1.49 trillion. However, in the third quarter of 2021, Maybank's net profit decreased to Rp 1.44 trillion. (Note: There's a discrepancy here; the previous sentence states a Q3 2021 profit of Rp 1.06 trillion, while this sentence states Rp 1.44 trillion. This needs clarification in the source material).

The decrease in profit for this issuer (stock code BNII) is partly due to adjustments in deferred tax calculations. Pre-tax profit, however, increased by 2.1% (yoy) to Rp 1.48 trillion from Rp 1.45 trillion.

Despite the decrease in BNII's profit, its interest expense decreased by 33.87% to Rp 2.83 trillion in the January-September 2021 period. Interest income, however, decreased to Rp 17.37 trillion in the first nine months of this year compared to the first nine months of last year.