JAKARTA - PT Bank Rakyat Indonesia (BRI) (JSX:BBRI) reported a 15 per cent increase in net profit to Rp5.5 trillion (US$500 million) in 2008 from Rp4.8 trillion in the previous year.
Abdul Salam, the finance director of the publicly traded state bank, said BRI achieved all its targets set for 2008.
Salam said, the bank's outstanding credits grew 40 per cent to Rp164 trillion in 2008 and this year it is set to see the credit to grow further by 20 per cent-25 per cent.
Credits are still dominated by ones for small and medium enterprises, which account for around 80 per cent of its total credits.
The country's largest lender in credit, now has a loan to deposit ratio (LDR) of 86 per cent with capital adequacy ratio (CAR) of 13.5 per cent, the newspaper Investor Daily said.
Salam said the bank plans to issue bonds valued at Rp300 billion in the second half of this year to keep the CAR from being reduced by credit expansion.
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