JAKARTA (Yosefardi) – PT Bank Muamalat Tbk, the oldest sharia bank in Indonesia, booked net profit of Rp194.65 billion in first quarter of this year, grew by 4.3% from Rp186.31 billion in the same period of last year.
The bank 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 Rp54.79 trillion as at March 31, 2014.
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.