According to its public expose material available at www.idx.co.id, the Maybank unit recorded net interest income of Rp1.554 trillion, increased 7% from the corresponding period in 2009. Interest income actually declined 8% to Rp2.9 trillion, but cost of fund also dropped 22% to Rp1.35 trillion.
Combined with 6% growth in other operational income, BII then recorded gross operating income of Rp2.619 trillion, increased 7% from Jan-Sep 2009.
BII also managed to cut provision substantially by 60% to Rp473 billion. As a result, BII reported net profit of Rp326 billion in Jan-Sep 2010 against net loss of Rp363 billion in the same period last year.
BII's total asset soared 24% to Rp67.64 trillion, while its equity surged 49% to Rp6.88 trillion. Lending grew 33% to Rp47.28 trillion, while time deposits increased 31% to Rp30.75 trillion.
The stock, BNII, closed flat at Rp335 on Wednesday (Oct 13). At that price, BII currently has market capitalization of Rp16.76 trillion. The stock gained only 1.3% year-to-date. (Theindonesiatoday.com)
Source : http://theindonesiatoday.com/stock-headline/4803-bii-reports-net-profit-of-rp326-billion.html - Oct 13, 2010
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