JAKARTA (Yosefardi) – PT Bank Muamalat Tbk, the oldest sharia bank in Indonesia, is keen to become an universal bank within next 5 years.
The bank will focus developing its business in Southeast Asia region, to be number one in syariah banking industry in the region.
Now the bank only focuses on retail sector. Bank Muamalat opts to also focus on corporate segment, small medium enterprises, and consumption.
Bank Muamalat targets to have 460 distribution network, 80 mobile banks, and 1,800 units of ATM.
Currently, syariah banking industry in Indonesia only has market share of 4.83% of total banking assets. The growth is limited doe to high cost of funds.
In first half of 2014, syariah banks’ financing totaled Rp188.06 trillion, grew by 2.14% from Rp184.12 trillion as at December 2013. While third party funds increased 1.36% to Rp207.36 trillion. The syariah banks’ assets reached Rp244.21 trillion as at June this year.