Indonesia's largest banks post huge growth in H1
- Source: Xinhua
- [15:21 July 30 2009]
- Comments
Indonesia's largest state-run and private banks, Bank Mandiri and Bank Central Asia (BCA), booked tremendous operation growths in the first half this year, the Jakarta Post reported here on Thursday.
Bank Central Asia (BCA), booked a net profit of 3.3 trillion rupiah (about $330.3 million ) in the first half this year, a year-on-year rise of 35.9 percent, compared with 2.4 trillion rupiah the same period last year.
Meanwhile, Bank Mandiri reaped a net profit of 2.9 trillion rupiah (some $290.2 million, or 12.1 percent higher than that of the same period last year.
The increases were backed up by a significant rise in loans, growing by 21.4 percent to 181.6 trillion (around $18.1 billion) for Bank Mandiri and 12.3 percent for BCA.
The tremendous loan lending growths made the two banks post bigger net interest income during the period.
BCA's net interest income grew 42.7 percent to 7.7 trillion rupiah (some $771.9 million), while Mandiri's jumped by 23.6 percent to 8.6 trillion rupiah (some $862.1 million).
During that period Bank Mandiri booked third party's fund (TPF)of 287.1 trillion rupiah (some $28.7 billion), or 21.5 percent higher than it was in the same period last year. Meanwhile, BCA booked 15.2 percent TPF growth to 219.4 trillion rupiah (some $21.994 million).
The two Indonesian banks are the largest in term of assets in their respective categories. As of late last year, Bank Mandiri's asset stood at 340 trillion (around $34.1 billion), meanwhile BCA' s stood at 246.7 trillion rupiah (some $24.7 billion).
Indonesian central bank, Bank Indonesia (BI), targets bank lending to increase by 15.5 percent this year to help support the economy to grow at around 4 percent.
National banks' loans growth that reached 30 percent last year has helped economic growth jumped to 6.1 percent.
