Bank Muamalat on 4th September 2014 launched a new co-branded ATM card in collaboration with the Samarinda School of Islamic Studies (STAIN), as part of an ongoing drive to expand its retail operations. The ATM card is to double as an ID card for STAIN Samarinda students and can be used in the payment of student fees as well as the disbursement of scholarships.
Bank Muamalat on 26th August 2014 was named the Best Islamic Finance Bank in Indonesia by Alpha Southeast Asia, a leading regional business publication. Presented during the 8th Annual Alpha Southeast Asia Award Luncheon, this marks the sixth consecutive year that the Islamic bank has received this prestigious distinction dating back to 2009.
Not limiting its expansion strategy to the development of a widespread branch network, Bank Muamalat intends to relocate its head office to a new building set for completion in December 2014. In celebration of the final beam’s placement on the top floor of the new Muamalat Tower, Bank Muamalat on 18th June 2014 hosted a Topping Off ceremony at the construction site.
PT Bank Muamalat Indonesia posted 372.20 billion RP ($36.1 million USD) in net profits for the first half of 2013, a 51.27% increase from the same period during the previous year (2012). The bank’s net earnings for the year as per June 2012 reached 1.25 trillion RP compared to 868.33 billion in June 2012 illustrating a significant increase.
Rating agency Fitch Ratings has affirmed PT Bank Muamalat Indonesia’s national long term rating as ‘A’ with a stable outlook and its subordinated debt rating at BBB. The rating agency explained that the bank’s planned rights issue will provide a significant capital injection in order to boost its capitalisation and thus contributed to its positive long term outlook.
