Up 32%, Profit Bank Syariah Mandiri Reaches Rp 255 Billion in First Quarter-2013

Indobusiness - Bank Syariah Mandiri (BSM) recorded a net profit of Rp 255.60 billion in the first quarter of 2013, up 32.63% compared to earnings in the same period in 2012 which was only Rp 192.72 billion.
The biggest contributor is the increase in profit margin and revenue sharing and cost efficiency. Margin and revenue sharing BSM March 2013 amounted to Rp 1.27 trillion, up 18.69%, compared to the position in March 2012 amounted to Rp 1.07 trillion. Revenue and margin for the results derived from the BSM financing as of March 2013 reached Rp 46.26 trillion, up 23.56%, compared to BSM financing as of March 2012 amounted to Rp 37.44 trillion.
Managing Director of Bank Syariah Mandiri Yuslam Fauzi said BSM looks more and more efficient. Ratio BO / PO per March 2013 amounted to 69.24% or lower than the ratio BO / PO as of March 2012 which amounted to 70.47%.
"Thank God we have maintained a policy of efficient banking operations," said Yuslam in a press release on Monday (13/05/2013).
BSM assets per March 2013 reached Rp 55.48 trillion, up 11.81% compared to its original position in March 2012 amounted to Rp 49.62 trillion. While the Third Party Funds (TPF) BSM as of March 2013 reached Rp 48.38 trillion, up 12.75%, compared to the position in March 2012 amounted to Rp 42.91 trillion.
BSM Business is supported by the presence of outlets per March 2013 has reached 789. The outlet consists of a total of 136 branch offices, 474 sub-branches (KCP), Cash Office 56 (KK), 7 Sharia Counter Service (KLS), and 116 Payment Point (PP). While per 30 Apri 2013 the total reached 794 outlets, comprising BSM 136 Branch Office (KC), 477 Branch Office (KCP), Cash Office 57 (KK), 6 Counter Service Sharia (KLS), and 118 Payment Point (PP).
BSM continues to focus on the SME sector. As of March 2013, the share of SME financing and noncorporate BSM 73.16% and 26.84% share of corporate financing.
Bank Syariah Mandiri equity per March 31, 2013 reached Rp 4, 44 trillion, up 35.78% compared to equity as at 31 March 2012 amounting to Rp3, 27 trillion. The increase in equity was due to an increase in paid-in capital and profits.
On December 28, 2012, the bank adds to BSM capital of Rp 300 billion. The capital injection made by BSM stronger capital position by March 2013 amounted to 15.23% or higher than the BSM capital position as of March 2012 was 13.91%.
BSM also allocate reserves Assets Allowance (PPAP) as determined by the Bank. Fulfillment PPAP BSM in March 2013 amounted to 100.91% higher than the fulfillment or PPAP as of March 2012 was 100.03%.