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Sharia-based Bank Muamalat is aiming to double its funds to
Rp 12 trillion (US$ 1.3 billion) as of the end of 2007.
Bank Muamalat director H. Hidayat said Monday that as of the end of
2006, the bank controlled funds of Rp 6.57 trillion, an increase of
11.89 percent from Rp 5.88 trillion at the end of 2005.
He added that financing growth in 2006 had not been as fast as in 2005
because growth in the real sector had been slow. The bank, therefore,
deposited almost Rp 700 billion of its funds in sharia-based Bank
Indonesia Wadiah certificates in 2006.
Hidayat added that the bank's loan-to-deposit ratio stood at 95 percent
as of the end of 2006, as compared to 100 percent as of the end of 2005.
The bank's before-tax profit amounted to Rp 207.076 billion in 2006 and
was expected to reach Rp 340 billion in 2007, he said.
The bank had total assets of Rp 8.45 trillion as of the end of December
2006, up 13.86 percent from Rp 7.42 trillion as of the end of 2005.
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