Bank Syariah Mandiri (BSM) booked net profit of Rp90.26 billion in the first quarter (Q1) of 2017, up 19.2% from Rp75.72 billion profit in the same period of 2016. The profitability was supported by the improved loan quality, recovery ex write off, higher fee based income, and controlled operational costs. The non performing financing (NPF) declined to 3.16% as at March 2017, from 4.3% as at March 2016. BSM’s assets rose 11.83% to Rp80.01 trillion in Q1. Third party funds increased 12.47% to Rp71.04 trillion. The financing grew by 9.14% to Rp55.42 trillion.
