KUALA LUMPUR (Bernama) -- PT Bank Maybank Indonesia Tbk’s profit after tax and minority interest (PATAMI) declined 3.3% in the first nine months of 2021 to 1.06 trillion rupiah from 1.1 trillion rupiah in the same period last year.

       The declined was attributed to tax valuation adjustment resulting from deferred tax expenses, the bank said in a statement today.

       "Net interest income (NII) decreased by 4.7% to 5.35 trillion rupiah in the first nine months of 2021, impacted from lower loan growth and decreasing trend in loan yield, in line with the reduction in Bank

       Indonesia rates and ongoing restructuring of customers’ loans impacted by the pandemic.

       "However, Net interest margin (NIM) increased by 6.0 basis points to 4.8% in September 2021, which was attributed by sustained reduction in cost of fund,” it said.

       Its president director Taswin Zakaria said the bank saw a rebound in the economy within the third quarter of 2021 as business activities have gradually improved along with public optimism given the decline in COVID-19 positive cases, followed by the Indonesian government’s decision to ease the level of public activity restrictions throughout the Indonesian regions.

       "We believe the improvements will further boost market confidence, leading to a gradual improvement of the national economy backed by the government stimulus programmes and active promotion of the COVID-19 vaccine agenda.”

       "Despite the gradual recovery, we remain cautious and disciplined in navigating the growth of the bank’s businesses, and we still implement a conservative risk management approach amid the challenging situation.

       On the other hand, Taswin said Maybank Indonesia continued to innovate various financial products and solutions relevant to its customers, in line with its mission of Humanising Financial Services.