Jakarta, 25 March 2022 – PT Bank Maybank Indonesia, Tbk. ("Maybank Indonesia or the Bank") held its Annual General Meeting of Shareholders ("AGMS") and Public Expose at the Maybank Indonesia Head Office today in Senayan, Jakarta.

The Bank’s AGMS approved the audited Consolidated Financial Statements for the financial year ended 31 December 2021. Amid gradual economic recovery due to pandemic, Maybank Indonesia booked Profit after Tax and Minority Interests (PATAMI) for the financial year ended 31 December 2021 at Rp1.64 trillion increased by 29.9% from Rp1.27 trillion in the previous year. 

The AGMS accepted the resignation of Dato' Sri Abdul Farid Bin Alias as President Commissioner of Maybank Indonesia effective 1 May 2022, and approved the appointment of Dato' Khairussaleh Ramli as President Commissioner of Maybank Indonesia, effective from 1 May 2022, after obtaining approval from the Regulator, until the closing of the Bank’s AGMS in 2025.
The AGMS also approved the appointment of Dato' Zulkiflee Abbas Abdul Hamid as Commissioner of Maybank Indonesia effective since the closing of the AGMS, and after obtaining approval from the Regulator, until the closing of the Bank’s AGMS in 2025. The AGMS approved the reappointment of Achjar Iljas as Independent Commissioner Maybank Indonesia with office term starting from the closing of the AGMS until the closing of the Bank’s AGMS in 2025.
Furthermore, the AGMS accepted the resignation of David Formula as Director of the Bank, effective 18 May, 2022.
The following is the structure of Maybank Indonesia’s Board of Commissioners and Directors based on the approvals in the AGMS:

The following conditions apply:

1. Dato' Sri Abdul Farid Bin Alias’ office term as President Commissioner of Maybank Indonesia will end on 1 May, 2022;
2. The appointment of Dato' Khairussaleh Ramli as President Commissioner Maybank Indonesia will be effective the soonest after 1 May 2022 and after obtaining approval from the relevant Regulator. Thus, his appointment is in accordance with the decision of the Regulator;
3. The appointment of Dato' Zulkiflee Abbas Abdul Hamid as Commissioner Maybank Indonesia will be effective after obtaining approval from the Regulator. Thus, his appointment will be in accordance with the decision of the Regulator;
4. David Formula's office term as Director of Maybank Indonesia will end on 18 May, 2022.

President Director, Maybank Indonesia, Taswin Zakaria, said, "On behalf of Maybank Indonesia's management and Maybank family, we would like to thank Dato' Sri Abdul Farid Bin Alias, who has faithfully served and supervised Maybank Indonesia's business journey for almost nine years. His contributions and work to introduce innovation across our business activities have given the (Maybank Indonesia) organisation to remain resilient and adapt to all challenges, especially in maintaining productivity and profitability. We would like to also thank David Formula for the contributions he has made during his near four years of service with us, particularly to strengthen the information technology and digital infrastructure at Maybank Indonesia." 

Taswin also warmly welcomed Dato' Khairussaleh Ramli as President Commissioner of Maybank Indonesia and Dato' Zulkiflee Abbas Abdul Hamid as Commissioner of Maybank Indonesia and hoped to continue the process for Maybank Indonesia sustainability transformation to be in line with the M25 strategy established by the Maybank Group.

The General Meeting also approved the use of the Company’s Net Profit for the financial year ended 31 December 2021, of Rp1,644,969,584,617,- where 30% or maximum of Rp493,490,875,385,- will be disbursed to the shareholders as cash dividend, or equivalent to Rp6.47496,- per share, and the remaining 70% or Rp1,151,478,709,232,- will be allocated as Retained Earnings.

Public Expose

Maybank Indonesia also held its annual Public Expose On the same day, to convey the company's latest performance to the public, shareholders and investors. 
Maybank Indonesia Public Expose revealed that its Net Profit reached Rp1.64 trillion, backed primarily by the declining cost of funds and overheads, strong Shariah banking unit performance, and lower provisions.

Maybank Indonesia took conservative measures, and proactively set aside provisions for accounts, across all business segments since 2020, impacted by the challenging economic environment. The Bank also continued its efforts to assist customers facing challenges to safeguard the Bank’s asset quality. Both efforts have contributed to a drop in loan-loss provisions by 25.8% to Rp1.54 trillion.

The Bank’s consolidated non-performing loans (NPL) ratio stood at 3.7% (gross) and 2.6% (net) in December 2021 from 4.0% (gross) and 2.5% (net) in December 2020, supported by lower NPL balances, which declined by 10.8%. Meanwhile, the Bank's Loan at Risk ratio (LAR Bank only) improved and stood at 18.0% in December 2021 from 21.5% in the previous year. The improved Bank’s Loan at Risk (LAR Bank only) ratio was attributed by the improvement of loan quality, as the Bank proactively took part in monitoring and restructuring customer loans.

On overheads, The Bank has successfully kept its overhead costs under control, which declined 4.2% to Rp5.47 trillion in December 2021, as a result of intensive and effective cost management efforts across the entire Bank’s businesses and operations.

The overall Community Financial Services (CFS) loan segment declined by 5.6% to Rp66.78 trillion Y-o-Y, however, the segment grew positively by 2.4% Q-o-Q, which was contributed by the growth in CFS Non-Retail and CFS Retail segments. The Bank’s CFS Non-Retail loans declined 11.6% Y-o-Y, but managed to grow 1.3% Q-o-Q. The CFS Retail credit segment also grew 3.4% Q-o-Q across all business segments. Mortgage continued to grow by 9.0% Y-o-Y and 3.1% Q-o-Q to Rp15.28 trillion in 2021, and is a key growth driver in the CFS Retail loan segment.

Customer deposits remained relatively stable year on year, and grew 12.8% Q-o-Q, as it is in line with the Bank’s strategy to maintain strong liquidity and efficient cost of funds by trimming high-cost funding as well as leveraging the Bank’s digital services to acquire customer deposits. The Bank’s CASA grew 18.5% to Rp54.26 trillion in December 2021 from Rp45.79 trillion in the previous year. The Bank’s CASA ratio of the total customer deposits increased to 47.2% in December 2021 compared to 39.8% in the previous year.

The Bank's liquidity to remain strong, with Loan to Deposit ratio (LDR Bank only) stood at a healthy level of 76.3%, while its Liquidity Coverage Ratio (LCR Bank only) stood at 183.2% in December 2021. This exceeded the regulator's minimum level of 100%. The Bank’s capital also remained strong, with Capital Adequacy Ratio (CAR) standing at 26.9% in December 2021, compared with 24.3% in the previous year. The Bank's total capital also increased to Rp28.39 trillion in December 2021 from Rp27.15 trillion in December 2020.

Shariah Banking Unit

Maybank Indonesia’s Shariah Banking Unit booked profit before tax (PBT), which jumped 52.8% to Rp450 billion in December 2021 from Rp295 billion in the previous year.

Total customer deposits increased 13.1% to Rp31.04 trillion from Rp27.44 trillion, supported by a surge in CASA, which increased 69.9% to Rp11.70 trillion in December 2021 from Rp6.89 trillion in the previous year. The increment was supported by the Bank’s continuing effort to optimise low-cost fundings. The Shariah Banking Unit’s total assets rose 11.2% to Rp39.22 trillion in December 2021 from Rp35.26 trillion in December 2020. Financing-to-Deposit Ratio (FDR) stood at 82.44%, while Non-Performing Financing (NPF) stood at 3.73% (gross) in December 2021.

President Director of Maybank Indonesia Taswin Zakaria said, "2021 remained a challenging year for Maybank Indonesia, given the second wave of Covid-19. Nevertheless, Government campaigns on vaccination program and implementation of health protocols helped to speed up the recovery towards the last quarter 2021. We are optimistic that public optimism and economic recovery momentum will continue in 2022, although challenges remain.”

"Amidst the uncertainties, we remain prudent in running our banking business to maintain the Bank's fundamentals and at the same time we look forward to optimise our acquisition efforts across our businesses by strengthening productivity and collaboration among various banking services, to deliver value for customers, as reflected in our mission, Humanising Financial Services."

Digital Transformation

Maybank Indonesia continued to improve its M2U ID digital banking services (App and Web) for retail customers, and M2E for corporate customers. In December 2021, financial transactions through M2U ID (App and Web) rose 11.2% to more than 15 million transactions in December 2021 from 14 million transactions in the previous year. This contributed to Bank’s funding, which grew 38.9% to Rp4.71 trillion, and in revenue by 24.6% to Rp193 billion in December 2021.
Meanwhile, financial transactions on M2E jumped 230.3% to more than 3 (three) million transactions in December 2021 from more than 11 thousand corporate customers using the service. The Bank recorded a surge in M2E total transactions by 399.2% in 2021 to Rp582.69 trillion from the previous year. This transaction has contributed to a rise in fee-based income by 189.9% to Rp8 billion in December 2021.

Throughout 2021, Maybank Indonesia has introduced several features to enhance its digital banking services. These features include the e-KYC and Biometric features on M2U ID App for online account opening, cardless withdrawals using QR code at Maybank’s ATMs all over Indonesia that support the feature, and top-up e-money card as well as Secure2u feature, providing customers with faster, convenient and secure transactions, minimising the dependency of SMS-based One-Time-Password (OTP).

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Maybank Indonesia is one of the leading banks in Indonesia and is a part of the regional and international network of the Maybank Group. Maybank Indonesia provides a comprehensive range of products and services for individual and corporate customers through Community Financial Services and Global Banking and automotive financing through subsidiaries, WOM Finance for two-wheeled vehicles and Maybank Finance for four-wheeled vehicles. Maybank Indonesia also continues to develop Digital Banking services and capacity through M2U ID App Mobile Banking, Maybank2u Internet Banking, M2E for corporate customers, and various other channels

As of December 2021, Maybank Indonesia has 356 branches, including Shariah branches spread across Indonesia, including one overseas branch in Mumbai, India, 22 Mobile Cash Cars and 1.033 ATMs connected with over 20.000 ATMs incorporated in ATM PRIMA, ATM BERSAMA, ALTO, CIRRUS, and connected to 3.500 Maybank ATMs in Singapore, Malaysia and Brunei. Maybank Indonesia manages customer deposits amounting to Rp114.90 trillion and has total assets valued at Rp168.76 trillion as of December 2021.

For more information:
Tommy Hersyaputera
Head, Corporate & Brand Communications
Email: ccommunications@maybank.co.id   Telp: +6221 2922-8888