PT Bank Maspion Indonesia Tbk (BMAS) posted a net profit for the year of Rp66.99 billion for the period January 1 to December 31, 2020.

Based on the financial statements of December 31, 2020, published today (26/4), profits in that period grew 12.1% year on year. In 2019, the company's net profit was recorded at Rp59.75 billion.

Net interest income decreased by 4.2% YoY, from Rp247.35 billion to 236.87 billion. However, the lender benefited from the sale of financial assets amounting to Rp27.84 billion, as well as an increase in commissions and other income, respectively 1.3% YoY to Rp6.35 billion and 7.3% YoY to Rp38.31 billion.

Thus, operating profit grew 4% YoY, from Rp83.27 billion to Rp86.71 billion.

Loans granted as of December 31, 2020, amounted to Rp6.91 trillion, an increase from the position at the end of December 2019 amounting to Rp5.47 trillion. Third-party funds grew by 41.3%, mainly from deposits and savings.

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