Bank Jabar Banten Posts 35.32% Net Profit Rise in 9 Months

Indonesia Finance

Monday, 25 October 2010 08:50

Theindonesiatoday.com – PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk, or Bank Jabar Banten, posted solid performance in the nine months to September as reflected by a strong rise in its net profit and operational income.

The company recorded net profit of Rp793.81 billion in the first nine months to September, compared to Rp586.63 billion in the same period last year, or up 35.32 percent, in line with a rise in net interest income, which rose to Rp1.92 trillion from Rp1.51 trillion, or iup 27.52 percent.

The bank posted non interest charges –- non-interest income minus non-interest expenses—of Rp883.51 billion, slightly higher from Rp710.31 billion a year earlier. As a result, the bank posted operating income of Rp1.04 trillion, against Rp802.26 trillion, representing an increase of 29.63 percent.

The bank’s assets also surged 27.84 percent to Rp41.37 trillion in the period, from Rp32.36 trillion in the same period last year.

The bank’s financial ratios also look healthy. Its net non performing loans remained at low level of 0.24 percent, little changed from 0.25 percent a year earlier, while gross NPL edged up to 2.01 percent from 1.20 percent.
The bank’s net interest margin (NIM) remained solid at 7.49 percent, little change from 7.48 percent a year earlier. Its loan to deposit ratio (LDR) though declined to 63.6 percent from 74.9 percent. (roffie@theindonesiatoday.com)

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