INDONESIA: DPLK Syariah Muamalat, Bank Muamalat Indonesia’s Shariah compliant pension fund offering, reported a year-on-year increase of 36.6% in its profit after tax, reaching IDR23 billion (US$1.41 million) as at Q1 2024. The fund’s net assets also reached IDR1.7 trillion (US$103.39 million) for the same period, driven by higher customer participation and an investment return growth of 6.5%. DPLK Syariah Muamalat said that it has set a target of IDR2 trillion (US$121.64 million) for its net asset growth by the end of 2024.
As of the 31st March 2024, DPLK Syariah Muamalat recorded 71,000 retail customers and 51,000 corporate customers. The fund said customer growth is targeted to reach 10% in 2024.
