Jakarta –
Indonesian Islamic bank PT Bank Syariah Mandiri (BSM) reported a 70.12 per cent surge in net profit to Rp194.42 billion (US$17.6 million) last year from Rp115.45 billion in the previous year.
BSM management said a strong growth in financing was the main contributor to the rise in net profit last year. Its outstanding financing rose 28.59 per cent to Rp13.28 trillion from Rp10.33 trillion, the bank said in a statement yesterday.
Significant growth was also recorded in its fee-based income rising to Rp300.99 billion from Rp209.96 billion.
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