Bank Muamalat, the pioneer of sharia banking in Indonesia, booked a net profit of Rp112.6 billion in 2018, jumped by more than twofold from Rp50.3 billion profit in 2017. Operating profit surged 201% to Rp181.5 billion from previous Rp60 billion, as operating profit fell and other income increased 18.6%. Revenue from the recovery of provision for losses also jumped 59.5% to Rp1.1 trillion.
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