Jakarta –
Indonesian Islamic bank PT Bank Syariah Mandiri (BSM) reported a 70.12 per cent surge in net profit to Rp194.42 billion (US$17.6 million) last year from Rp115.45 billion in the previous year.
BSM management said a strong growth in financing was the main contributor to the rise in net profit last year. Its outstanding financing rose 28.59 per cent to Rp13.28 trillion from Rp10.33 trillion, the bank said in a statement yesterday.
Significant growth was also recorded in its fee-based income rising to Rp300.99 billion from Rp209.96 billion.
Friday, April 3, 2009
Wednesday, April 1, 2009
Indonesian third-largest bank BRI profit up by 23 pct in 2008
JAKARTA -
Indonesia's state-owned Bank Rakyat Indonesia or BRI net profit rose by 23 percent to 5.96 trillion rupiah (some 512.56 million U.S. dollars) last year compared with the year 2007, the bank said on Tuesday in its report. "Amid the global financial routs, the bank still shows its best performance," Director for Operation of the bank Sarwono Sudarto said here.
Banks in Indonesia have been expected to cut lending rate following the rate cut by 50 basis points to 7.75 percent recently to boost economic growth. March 31, 2009
Indonesia's state-owned Bank Rakyat Indonesia or BRI net profit rose by 23 percent to 5.96 trillion rupiah (some 512.56 million U.S. dollars) last year compared with the year 2007, the bank said on Tuesday in its report. "Amid the global financial routs, the bank still shows its best performance," Director for Operation of the bank Sarwono Sudarto said here.
Banks in Indonesia have been expected to cut lending rate following the rate cut by 50 basis points to 7.75 percent recently to boost economic growth. March 31, 2009
INDONESIA'S BANK CENTRAL ASIA 2008 NET PROFIT UP 28.7 PCT
JAKARTA-
PT Bank Central Asia Tbk (BCA) (JSX:BBCA) booked a net profit of Rp5.8 trillion (US$504.6 million) in 2008, which was an increase of 28.7 per cent from the previous year's Rp4.5 trillion.
Its president director, D.E Setijoso, said to reporters here on Monday the main factors behind the hike were net interest and fee-based incomes which had risen significantly.
The hike was also caused by five per cent reduction in income tax tariff in line with the implementation of Government Regulation Number 61 of 2007 for public corporations to meet qualifications.
The rise of the bank's net interest income by 29.0 per cent to Rp12.4 trillion was driven by significant credit growth, profitable composition of third party funds and balanced composition of productive assets.
The bank's fee-based income rose 36.5 per cent to Rp3.9 trillion on growth of income from transaction and account services, he said.
BCA by the end of 2008 also recorded 3.4 per cent return on assets and 30.2 per cent return on equity.
Setijoso said in the midst of current challenges BCA remained focussed on its efforts to maintain the position of its liquidity and strong capital structure.
"We continue to maintain and apply the BCA business model that has passed tests to optimize income what will strengthen the company's capital," he said.
BCA, he said, booked a significant credit growth in all segments of 36.9 per cent to Rp112.8 trillion compared with the same period last year which was recorded at only Rp82.4 trillion.
As a result its loan to deposit ratio rose to 53.8 per cent from the same period last year which was recorded at only 43.6 per cent. The bank's corporation credits grew 42.3 per cent to Rp46 trillion due to shortage of alternative funding sources for corporate clients.
The bank's portfolio of commercial credits and credits to small and medium businesses rose 27.3 per cent to Rp45.9 trillion, he said.
He said the bank's non-performing loans were relatively small recorded at only 0.6 per cent with an allocation of reserves for problematic credits increasing 408.4 per cent to Rp2.6 trillion.
He said in the midst of market uncertainty quality of credit portfolio had declined but it was still within a normal range.
Setijoso said the bank's third party funds grew 10.8 per cent to Rp209.5 trillion, supported by funds from savings and giro accounts.
Total savings rose 11.3 per cent to Rp105.4 trillion and total giro accounts rose 16.5 per cent to Rp51.2 trillion.
BCA has a strong foundation to continue its effort in developing a value franchise as a transactional bank by investing in network infrastructure and enriching variety of products and services to give comfort to customers when conducting transactions," he said.
PT Bank Central Asia Tbk (BCA) (JSX:BBCA) booked a net profit of Rp5.8 trillion (US$504.6 million) in 2008, which was an increase of 28.7 per cent from the previous year's Rp4.5 trillion.
Its president director, D.E Setijoso, said to reporters here on Monday the main factors behind the hike were net interest and fee-based incomes which had risen significantly.
The hike was also caused by five per cent reduction in income tax tariff in line with the implementation of Government Regulation Number 61 of 2007 for public corporations to meet qualifications.
The rise of the bank's net interest income by 29.0 per cent to Rp12.4 trillion was driven by significant credit growth, profitable composition of third party funds and balanced composition of productive assets.
The bank's fee-based income rose 36.5 per cent to Rp3.9 trillion on growth of income from transaction and account services, he said.
BCA by the end of 2008 also recorded 3.4 per cent return on assets and 30.2 per cent return on equity.
Setijoso said in the midst of current challenges BCA remained focussed on its efforts to maintain the position of its liquidity and strong capital structure.
"We continue to maintain and apply the BCA business model that has passed tests to optimize income what will strengthen the company's capital," he said.
BCA, he said, booked a significant credit growth in all segments of 36.9 per cent to Rp112.8 trillion compared with the same period last year which was recorded at only Rp82.4 trillion.
As a result its loan to deposit ratio rose to 53.8 per cent from the same period last year which was recorded at only 43.6 per cent. The bank's corporation credits grew 42.3 per cent to Rp46 trillion due to shortage of alternative funding sources for corporate clients.
The bank's portfolio of commercial credits and credits to small and medium businesses rose 27.3 per cent to Rp45.9 trillion, he said.
He said the bank's non-performing loans were relatively small recorded at only 0.6 per cent with an allocation of reserves for problematic credits increasing 408.4 per cent to Rp2.6 trillion.
He said in the midst of market uncertainty quality of credit portfolio had declined but it was still within a normal range.
Setijoso said the bank's third party funds grew 10.8 per cent to Rp209.5 trillion, supported by funds from savings and giro accounts.
Total savings rose 11.3 per cent to Rp105.4 trillion and total giro accounts rose 16.5 per cent to Rp51.2 trillion.
BCA has a strong foundation to continue its effort in developing a value franchise as a transactional bank by investing in network infrastructure and enriching variety of products and services to give comfort to customers when conducting transactions," he said.
Indonesia's BRI says 2008 net profit up 23 pct
JAKARTA -
Indonesia's third-largest lender, PT Bank Rakyat Indonesia Tbk (BBRI.JK), on Tuesday reported a 23 percent rise in 2008 net profit, beating analysts' forecasts.
The state-owned lender said in a statement that full-year net profit was 5.96 trillion rupiah ($516.9 million), compared to 4.84 trillion rupiah a year earlier.
Analysts polled by Reuters Estimates had forecast a net profit of 5.58 trillion rupiah. ($1=11530 Rupiah). March 30, 2009 by Reuters.
Indonesia's third-largest lender, PT Bank Rakyat Indonesia Tbk (BBRI.JK), on Tuesday reported a 23 percent rise in 2008 net profit, beating analysts' forecasts.
The state-owned lender said in a statement that full-year net profit was 5.96 trillion rupiah ($516.9 million), compared to 4.84 trillion rupiah a year earlier.
Analysts polled by Reuters Estimates had forecast a net profit of 5.58 trillion rupiah. ($1=11530 Rupiah). March 30, 2009 by Reuters.
Friday, March 27, 2009
INDONESIAN STATE BANKS TO FINANCE GEOTHERMAL POWER PROJECT
JAKARTA-
Three Indonesian state banks have agreed to provide a syndicated loan of US$80 million to finance the construction of a geothermal power plant in Patuha, West Java.
Gatot M Suwondo, the president of Bank Negara Indonesia (BNI) (JSX:BBNI) said the bank is ready to lead the syndicate that will include PT Bank Mandiri (JSX:BMRI) and PT Bank Rakyat Indonesia (BRI) (JSX:BBRI) to finance the project owned by PT Geo Dipa Energy.
Negotiation is still underway to decide the contributions of each bank, Gatot said after the signing of a memorandum of understanding between the three state lenders last week.
Praktimia Semiawan, the president of Geo Dipa, said the cost of building the 55-megawatt power plant is estimated to reach US$143 million.
Geo Dipa is a joint venture company between state power utility PLN and oil and gas company PT Pertamina. March 27th, 2009.
Three Indonesian state banks have agreed to provide a syndicated loan of US$80 million to finance the construction of a geothermal power plant in Patuha, West Java.
Gatot M Suwondo, the president of Bank Negara Indonesia (BNI) (JSX:BBNI) said the bank is ready to lead the syndicate that will include PT Bank Mandiri (JSX:BMRI) and PT Bank Rakyat Indonesia (BRI) (JSX:BBRI) to finance the project owned by PT Geo Dipa Energy.
Negotiation is still underway to decide the contributions of each bank, Gatot said after the signing of a memorandum of understanding between the three state lenders last week.
Praktimia Semiawan, the president of Geo Dipa, said the cost of building the 55-megawatt power plant is estimated to reach US$143 million.
Geo Dipa is a joint venture company between state power utility PLN and oil and gas company PT Pertamina. March 27th, 2009.
Wednesday, March 25, 2009
Indonesian auto finance, transport firms plan bond issues
JAKARTA - Two Indonesian finance firms and a transport group plan to raise 2.3 trillion rupiah ($202 million) in total from bonds, according to company officials and prospectuses, as domestic interest rates are set to fall further.
Several Indonesian companies have shown an interest in issuing bonds this year to raise funds for working capital and to repay maturing debt. Analysts estimate new corporate bonds could reach a total of around 10-15 trillion rupiah.
Tito Sulistio, chief commissioner at transport firm PT Mitra Rajasa Tbk, said on Tuesday the firm would raise about 750-900 billion rupiah from a bond issue in May.
PT Mandiri Sekuritas, a unit of Bank Mandiri, PT CIMB-GK Securities, a unit of Bank CIMB Niaga and PT DBS Vickers Securities Indonesia, part of DBS Group, have been appointed as underwriters.
Mitra Rajasa is changing its focus from transportation to energy and mining following its acquisition of drilling firm PT Apexindo Pratama Duta Tbk, and of two coal mines in South Sumatra for $40 million. It also plans to change its name to PT Mitra International Resources Tbk.
Two auto finance firms, PT Astra Sedaya Finance and PT Adira Finance Tbk, expect to raise 900 billion rupiah and 500 billion rupiah respectively in the second quarter.
Astra Sedaya, controlled by General Electric Co and Indonesia's largest automotive distributor PT Astra International Tbk, will issue five bond series with maturities ranging from 370 days to 36 months.
The fixed-rate bonds, underwritten by PT Indo Premier Securities, PT Mandiri Sekuritas, PT HSBC Securities Indonesia and PT ING Securities Indonesia, offer rates ranging from 13.50-14.90 percent, the firm said in a prospectus.
Adira Finance, controlled by Indonesia's fifth-largest bank PT Bank Danamon Tbk, plans to sell two-year and three-year bonds with coupons in the range of 12.3-14.5 percent.
PT CIMB-GK Securities Indonesia, PT HSBC Securities Indonesia and PT Indo Premier Securities have been appointed underwriters.
Indonesia's central bank has cut its benchmark interest rate by a total of 175 basis points to 7.75 percent since December and has indicated it could lower the rate further to drive growth. ($1 = 11,375 rupiah). March 24th 2009 By Reuters.
Several Indonesian companies have shown an interest in issuing bonds this year to raise funds for working capital and to repay maturing debt. Analysts estimate new corporate bonds could reach a total of around 10-15 trillion rupiah.
Tito Sulistio, chief commissioner at transport firm PT Mitra Rajasa Tbk, said on Tuesday the firm would raise about 750-900 billion rupiah from a bond issue in May.
PT Mandiri Sekuritas, a unit of Bank Mandiri, PT CIMB-GK Securities, a unit of Bank CIMB Niaga and PT DBS Vickers Securities Indonesia, part of DBS Group, have been appointed as underwriters.
Mitra Rajasa is changing its focus from transportation to energy and mining following its acquisition of drilling firm PT Apexindo Pratama Duta Tbk, and of two coal mines in South Sumatra for $40 million. It also plans to change its name to PT Mitra International Resources Tbk.
Two auto finance firms, PT Astra Sedaya Finance and PT Adira Finance Tbk, expect to raise 900 billion rupiah and 500 billion rupiah respectively in the second quarter.
Astra Sedaya, controlled by General Electric Co and Indonesia's largest automotive distributor PT Astra International Tbk, will issue five bond series with maturities ranging from 370 days to 36 months.
The fixed-rate bonds, underwritten by PT Indo Premier Securities, PT Mandiri Sekuritas, PT HSBC Securities Indonesia and PT ING Securities Indonesia, offer rates ranging from 13.50-14.90 percent, the firm said in a prospectus.
Adira Finance, controlled by Indonesia's fifth-largest bank PT Bank Danamon Tbk, plans to sell two-year and three-year bonds with coupons in the range of 12.3-14.5 percent.
PT CIMB-GK Securities Indonesia, PT HSBC Securities Indonesia and PT Indo Premier Securities have been appointed underwriters.
Indonesia's central bank has cut its benchmark interest rate by a total of 175 basis points to 7.75 percent since December and has indicated it could lower the rate further to drive growth. ($1 = 11,375 rupiah). March 24th 2009 By Reuters.
INDONESIA'S BTPN CHALKS UP THE HIGHEST ROE
JAKARTA - PT Bank Tabungan Pensiunan Nasional (BTPN) chalked up the second highest return on equity (ROE) among banks in Indonesia after state lender Bank Rakyat Indonesia (BRI) in 2008.
The medium bank had a ROE of 28.44 per cent by December, 2008 as against BRI's 32.86 per cent with BCA, the country's second largest lender in asset recording 28.29 per cent and Bank Mandiri, the country's largest bank 22.38 per cent.
BTPN recorded a 9.06 per cent increase in net profit to Rp378.89 billion (US$31.6 million) attributable to 32.81 per cent credit expansion that increased its outstanding credit to Rp10.43 trillion. , the newspaper Investor Daily said.
Its net interest income surged 25.85 per cent to Rp1.31 trillion and the bank succeeded in reducing its non performing loan to 0.59 per cent from 1.31 per cent. March 25th, 2009.
The medium bank had a ROE of 28.44 per cent by December, 2008 as against BRI's 32.86 per cent with BCA, the country's second largest lender in asset recording 28.29 per cent and Bank Mandiri, the country's largest bank 22.38 per cent.
BTPN recorded a 9.06 per cent increase in net profit to Rp378.89 billion (US$31.6 million) attributable to 32.81 per cent credit expansion that increased its outstanding credit to Rp10.43 trillion. , the newspaper Investor Daily said.
Its net interest income surged 25.85 per cent to Rp1.31 trillion and the bank succeeded in reducing its non performing loan to 0.59 per cent from 1.31 per cent. March 25th, 2009.
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