JAKARTA (Yosefardi) – Bank Muamat, the largest Islamic bank in Indonesia, reported a 71.6% drop in net profit, to Rp30 billion in first half of 2016, compared to Rp106 billion in the corresponding period of 2015.
Revenue fell 22.8% to Rp866 billion from previous Rp1.12 trillion. Operating profit was Rp11.7 billion only, compared to Rp155 billion in previous year. The bank’s assets reached Rp52.69 trillion while liability amounted Rp49.1 trillion.
Bank Muamalat reported negative cash flow of Rp3.47 trillion for first half, improved from negative cash flow of Rp4.27 trillion in first half of 2015. It has cash and cash equivalent of Rp4.45 trillion, consisting of cash on hand (Rp1.21 trillion), gyro at central bank (Bank Indonesia) Rp2.28 trillion and gyro at other banks Rp960 billion.