Heaptalk, Jakarta — Maybank Indonesia posted a net profit of Rp376 billion, approximately US$22.9 million (US$1 equals Rp16,398), in the first quarter of 2025. This marked a 265.1% increase compared to Q1 2024, with significant provisions. Pre-tax profit reached Rp506 billion, about US$30.8 million, rising 290.9% year-on-year (YoY).
The net profit growth was driven by interest income from securities placements, improved average financing balances, and higher fee-based income during the period. Additionally, provisions decreased by 72.9% compared to the same period last year, when the bank proactively managed credit risks.
Steffano Ridwan, President Director of Maybank Indonesia, stated that the bank started 2025 with solid year-on-year profitability, supported by sustainable financing growth in strategic segments. “To enhance our resilience and ability to seize further growth opportunities, we will proactively review and rebalance our financing portfolio to align with our ‘Super Growth’ strategy while maintaining healthy asset quality,” Steffano said.
Growing total assets
Net interest income (NII) rose 1.4% despite higher interest expenses, while the net interest margin (NIM) corrected by 20 basis points YoY to 4.3%. Fee-based income surged 54.3% to Rp571 billion, bolstered by a 309.5% increase in global market (GM) fees to Rp107 billion. Non-GM fee income grew 10.2% to Rp464 billion, primarily from wealth management and asset recovery services.
Total loans disbursed reached Rp122 trillion, not growing significantly compared to March 2024. The bank’s total assets grew 6.8% to Rp189.81 trillion. Third-party funds declined 4.9% to Rp111.50 trillion due to the bank’s fund cost management strategy. Current accounts rose 6.3%, while savings dropped 5.2%. However, the current account savings account (CASA) ratio improved to 53.0% in March 2025 from 49.7% a year earlier.
The non-performing loan (NPL) ratio improved from 2.7% (gross) and 1.7% (net) in March 2024 to 2.4% (gross) and 1.5% (net) in March 2025. The loan-to-deposit ratio (LDR, bank only) stood at 92.0%, while the liquidity coverage ratio (LCR, bank only) remained healthy at 168.1%, well above the regulatory requirement of 100%. The net stable funding ratio (NSFR, bank only) was 106.7%. The capital adequacy ratio (CAR) stayed strong at 25.7%, with CET1 at 24.5%.
Growth in retail digital banking platform
The retail digital banking platform (M2U) saw a 27.7% increase in transactions, reaching 7.2 million, while the corporate platform (M2E) recorded a 21.3% rise to 1.3 million transactions. The bank continues to invest in IT capabilities and implement strategic initiatives aligned with Maybank Group’s M25+ strategy. Overhead costs increased by 7.1%, partly due to ongoing workforce development.
Dato’ Khairussaleh Ramli, President Commissioner of Maybank Indonesia, noted that the bank has restored profitability while demonstrating resilience and strong fundamentals amid global economic challenges in early 2025. “Maybank Indonesia’s positive performance in Q1 reflects the successful implementation of the M25+ strategy, driving robust growth across all business lines,” he said.
In Q1 2025, Maybank Indonesia received several awards, including Best Bank for Sustainable Finance – Indonesia at the Global Finance Sustainable Finance Awards 2025 and two prestigious Euromoney Private Banking Awards 2025 for Indonesia’s Best for High Net Worth and Indonesia’s Best for Digital Solutions.
