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BERITA SUBANG - Maybank Indonesia posted a 19.6 percent decline in its fee-based income in the first half of 2021, as fee income from its Global Market division dropped amid the Covid-19 pandemic.
The drop in its fee based income, along with falling net interest income, contributed to the bank's first half 2021 net profit decline.
In its consolidated financial results for the six-month period ended June 30, 2021, the bank stated that its fee-based income, or non-interest income, declined to Rp 952 billion from Rp 1.18 trillion in the same period last year.
Maybank stated that the drag in fee-based income was due to falling revenue from its Global Market division.
In its official website, Maybank Indonesia says its 'global market solution' includes treasury products such as foreign exchange (spot, forward, swap), foreign exchange option, cross currency swap, interest rate swap and call spread option.
It also offers structured investment products like dual currency investment and swap investment.
On a quarterly basis, however, fee-based income increased by 10 percent to Rp 498 billion.
Bancassurance fee grew strong
