JAKARTA (Yosefardi) – PT Bank Muamalat Tbk, the oldest sharia bank in Indonesia, targets to book profit before tax of Rp981 billion this year, a 50% growth compared to Rp654 billion last year.
Muamalat is still the largest private sector Islamic bank in Indonesia with total assets of around Rp54 trillion as at December 31, 2013.
Muamalat is now controlled by Islamic Development Bank (IDB) with 32.74%, National Bank of Kuwait with 30.45%, Atwill Holdings Ltd with 17.91%, IDF Foundation with 3.48%, BMF Holdings 2.84%, and other shareholders.
Muamalat’s total assets grew 22% to Rp54.7 trillion last year, mostly due to substantial increase in wadiah savings, mudharabah savings, and forex mudharabah deposits. In exchange, Muamalat also boosted its financing activity by almost 39%, while murabahah facilities grew by 19% to Rp23.8 trillion.